tokens<\/a> <\/strong>for trading.<\/p>\nOn the other hand, the opening of accounts for trading, verifying \u2018Know Your Customer\u2019 requests and ensuring the platform is compliant with the anti-money laundering laws in place will be Paxos Trust Company\u2019s task.<\/p>\n
The third company, Stable Universal, is responsible for the creation of the HUSD tokens conducting smart contract audits and handling on-chain transaction monitoring. To carry out the smart contract audits, Stable Universal will work with third-party entities.<\/p>\n
In addition to the above, a reputable US auditing firm will be contracted every month to ensure the supply of HUSD Tokens equals to the amount of USD in reserve under Paxos Trust Company.<\/p>\n
Paxos is a fully compliant and qualified custodian firm with a license from the New York State Department of Financial Services (NYDFS), so HUSD tokens reserves are in safe hands.<\/p>\n
“With such a team behind HUSD Token, we are more than happy and are assured of our token being a game-changer in the market.” Frank Zhang, CEO of Stable Universal.<\/em><\/p>\n” Paxos will come in to provide the best services in regards to protection and oversight. On the other hand, Huobi\u2019s broader market penetration assures us of a quick way to build liquidity for our token. Besides that, HUSD token is designed to be simple, efficient, and it is fully redeemable and will come in handy at helping traders limit risk exposure.”<\/em><\/p>\nWith each entity complementing the work of the other, for crypto traders, this is yet another stablecoin designed to meet their needs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Through a partnership with Paxos Trust Company and, Huobi Global will launch a new stablecoin HUSD Token backed to US dollars. Through HUSD Token Huobi is making another milestone in its entity since HUSD Token will mark its transition from its current HUSD system into the ERC-20 era.<\/p>\n","protected":false},"author":5,"featured_media":15799,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4718,5001],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/15798"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=15798"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/15798\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/15799"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=15798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=15798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=15798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}