To meet your different trading needs on stablecoins, Huobi Global now launches an all-in-one program which is called HUSD.
Introduction of HUSD:
HUSD is an integrated solution targeted at multiple stablecoins, it helps to:
- eliminate the need to choose between multiple stablecoins;
- saving costs when switching between stablecoins.
When you deposit any kind of stablecoins, they will be shown as HUSD in your account. You may withdraw any kind of stablecoin; when the amount of a particular stablecoin is not sufficient in your account balance, you may withdraw other stablecoins in which you have excess balances in.
For example, when you deposit 1 PAX, it will show as 1 HUSD in your account, and you can withdraw 1 TUSD (not considering transaction fees on the blockchain).
Currently, the HUSD solution supports four kinds of stablecoin: Paxos Standard（PAX），True USD（TUSD），USD Coin（USDC）and Gemini Dollars（GUSD）We will keep a close watch on new stablecoins that appear on the market and optimize the HUSD standards. We look forward to more stablecoins being involved in the HUSD system. Concurrently, we will evaluate the existing stablecoins in the HUSD system on a real-time basis, if the stablecoin doesn’t meet the corresponding risk control standard, we will remove it off from the HUSD system.
The launch schedule:
- The deposit service of PAX, TUSD, USDC and GUSD will start at 16:00, October 19 (GMT+8 ) .
- USDT/HUSD trading pair will be listed at 10:00 AM, October 22 (GMT+8) on Huobi Global.
- Transfer service of HUSD between Huobi OTC and Huobi Global will start at 10:00 AM, October 22 (GMT+8), and trading services of HUSD on Huobi OTC will start at 10:00, October 23 (GMT+8).
- Huobi Global will commence BTC/HUSD at 18:00, October 22 (GMT+8 ) and commence ETH/HUSD trading at another time after evaluating market conditions.
- Huobi App will support the trading service of USDT/HUSD, and the deposit and withdrawal services of HUSD will be available in the next App version.
- Huobi Global will start the withdrawal services of the stablecoins in one to two weeks. The specific time and date will be notified via a separate announcement.
Upholding the principle of "user first", Huobi Global spares no effort to promote the blockchain industry, and we greatly appreciate your support all this time.
We welcome all our users to provide us with your valuable comments and feedback!
October 19, 2018