For some, perhaps the only thing better than a stablecoin is a universal stablecoin – one that’s usable wherever stablecoins are accepted. That’s what Huobi has launched in its new HUSD token, which supports four major stablecoins: Gemini Dollar, Paxos Standard, USDCoin, and True USD. The function is simple enough – by holding HUSD, users are able to instantly have an equal value of any of the above.
A small event was held in New York this week called the Stablecoin New York Conference, and Huobi General Counsel Joshua Goodbody spoke at moderate length about his firm’s efforts.
It seems Goodbody misspoke – according to the actual exchange at time of writing, the available pairs for HUSD were BTC, ETH, EOS, and USDT. It’s interesting that USDT is traded against HUSD, but not part of it. This is the second stablecoin effort that has decided to forego integration of USDT, which is the first pegged token.