Huobi Announces Listing of Four New US Dollar-Pegged Stablecoins

Huobi Announces Listing of Four New US Dollar-Pegged Stablecoins

cryptocurrency exchange News
October 17, 2018 by Sandra Onyeiwu
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Singapore-based crypto exchange Huobi, currently the fourth-largest by trading volume, has announced it will list four U.S. dollar-pegged cryptocurrencies. The exchange said it will open deposits and withdrawals for TrustToken’s TUSD, Circle’s USDC, and two regulator-approved stablecoins: the Gemini exchange’s GUSD and Paxos’ PAX, on Oct. 19. The Huobi Global team noted that the stablecoins
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Singapore-based crypto exchange Huobi, currently the fourth-largest by trading volume, has announced it will list four U.S. dollar-pegged cryptocurrencies.

The exchange said it will open deposits and withdrawals for TrustToken’s TUSD, Circle’s USDC, and two regulator-approved stablecoins: the Gemini exchange’s GUSD and Paxos’ PAX, on Oct. 19.

The Huobi Global team noted that the stablecoins are already available on Huobi Wallet, while the launch time and other details are set to be announced at a later time.

Huobi becomes the latest top 10 cryptocurrency exchange to add new stablecoins as uncertainty continues to mark Tether’s market reputation.

The vice president of Huobi Group, Livio Weng, stated:

“Tether is one of the biggest stablecoins in the market, and realistically it will take some time before other stablecoins can catch up. We currently have no plans to restrict trading, deposits, or withdrawals in regards to Tether. However, in the interest of providing users with more choice, we are also in the process of listing several new stable coins.”

OKEx took the same step by adding the aforementioned tokens to its listed assets yesterday. Tether, the world’s largest stablecoin, lost its peg in the early hours of October 15, 2018, causing major price discrepancies between bitcoin’s BTC/USDT and BTC/USD trading pairs across the market.

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