In the latest cryptocurrency news, we have one of the most popular exchanges in Singapore, Huobi, with a new initiative to launch its own multi-stablecoin named HUSD – as a stablecoin that would be usable to trade Bitcoin and other altcoins whenever stablecoins are accepted.
The new stablecoin by Huobi supports four major stablecoins including the Gemini Dollar, Paxos Standard, USDCoin and True USD. Its function will be simple – users will be able to instantly have an equal value of any of the above by holding HUSD.
The launch was made official at a small event in New York called ‘The Stablecoin New York Conference’ where the General Counsel at Huobi, Joshua Goodbody, spoke at moderate length about the efforts of his firm.
As he stated:
“We believe the recent developments of stablecoins are positive for the industry and Huobi decided to support these developments proactively by launching HUSD. HUSD acts as a stablecoin aggregator. We provide the ability to deposit any of the four supported coins as HUSD and receive a 1:1 balance of HUSD which can be stored as well as traded against six pairs on Huobi Global. Users are also able to withdraw HUSD as any of the four applicable stablecoins.”
However, it seems that Goodbody misspoke the available pairs for HUSD which are BTC, ETH, EOS and USDT – traded directly against it and not as part of it.
The HUSD stablecoin, as presented, reduces the trading fees for traders dealing with several types of markets. Since there is no exchange that lists every token and opportunity all of the time, the movement between exchanges is necessary.
Coinbase Adds PayPal Withdrawals To Its Platform (For U.S. Citizens)
“There is new technical work to make this possible, and that was done in conjunction with PayPal.”However, this Friday Osgood wrote that the partnership provides Coinbase customers an alternative to the traditional federal wire or automated clearing house (ACH) network that they were required to use. As he said:
“These traditional finance networks can add up to two business days to a withdrawal. We’re always looking for ways to not only meet the bar set by traditional finance, but raise it. That’s why we rebuilt our integration to ensure that the speed and reliability of PayPal withdrawals does just that.”The service is for now only available to customers in the United States, but could continue to be added to other nations across 2019, as Osgood wrote.
Bitcoin Plunges To A Yearly Low, Market Is ‘Prepared’ To Go Below $100 Billion
“As BTC is approaching the target of the 2014 fractal the targets of most people change from 3k to 1k and even lower. I still think $2,700 is an excellent place to buy if we should go there. ‘History doesn’t repeat itself but it often rhymes.’”Currently, there is a big risk in shorting and longing Bitcoin and other major cryptocurrencies in the market, which is why investors are observing the short-term trend of the crypto market by holding out on their trading activity.
TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week
“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
Bitcoin Cash Drops Again By 15 Percent While Other Cryptocurrencies Take A Stronger Hit
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