Huobi announces the delisting of the original stablecoin HUSD from the global list

The Seychelles-based Huobi exchange no longer supports trading of its local stablecoin, HUSD.

The assets of users with funds stored in this token will be automatically converted to USDT – the world’s largest stablecoin – in a 1:1 ratio.

  • in message On Thursday, the exchange clarified that the delisting is “in accordance with Article 11 of the Huobi Global Token Management Rules.” This article gives Huobi Global the right to inspect the project team at any time for reasons it deems necessary.
  • The write-off takes effect on October 28 at 8:00 UTC. Meanwhile, the conversion of HUSD to USDT is expected to be completed on November 4 (GMT +8)
  • All open orders for HUSD will be cancelled, and related assets will be credited to the users’ instant accounts in the form of USDT.
  • HUSD is a stablecoin secured by a financial collateral that is backed by US dollars in bank accounts owned by Paxos. It is currently trading at around $0.98, just below the ideal dollar sign.
  • Great coin saw relaxation It only fell to $0.90 in August, but managed to recover quickly to $1.00 within 12 hours at that time.
  • Justin Sun confirmed That he took on a consulting role at Huobi earlier this month. The entrepreneur is the founder of Tron, which uses a decentralized stablecoin called USDD.

Huobi’s announcement of the global delisting of the Native Stablecoin HUSD first appeared on CryptoPotato.

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