x
--d : --h : --m : --s
Get tickets
Verified on Po.et Created with Sketch. Verified on Po.et

Huobi Joins OKEx in Adding Four New Stablecoins

by

        Huobi Joins OKEx, Adds Four New Stablecoins
Huobi Joins OKEx, Adds Four New Stablecoins

Huobi Global has announced its decision to list four USD-pegged stablecoins by the end of the week.

In a support notice published on its platform, the company noted that users will be able to make deposits for Paxos Standard Token (PAX), True USD (TUSD), Circle’s (USDC), and Gemini exchange’s (GUSD) on its exchange starting from Friday, October 19, 2018 (GMT +8).

That was as much detail as the exchange revealed, as it says further information for when trading would start on the exchange will be announced at a later date. Huobi is the fifth largest digital currency exchange and is currently the ninth largest market for Tether, according to data from CoinMarketCap.

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

While uncertainty persists regarding Tether's USD holdings, Leonardo Real, Tether’s chief compliance officer, in an email response to CNBC, believes the current happenings in the market are no cause for alarm.

"We would like to reiterate that although markets have shown temporary fluctuations in price, all USDT in circulation are sufficiently backed by U.S. dollars (USD) and that assets have always exceeded liabilities," he added.

At press time, Tether is trading at $0.98, tied to bitcoin trading pairs. Against the USD on Kraken and Bittrex, it is trading at $0.95 and $0.96, respectively.


Recommended

Cashaa Hopes to Bridge Crypto and Traditional Finance

Cashaa is on a mission to bank the unbanked and wants to leverage Bitcoin to accomplish it.

Christopher Tozzi

Sparkswap, World’s First Lightning Atomic Swap Exchange, Now in Beta

Bitcoin’s first decentralized exchange to make use of the Lightning Network’s Atomic Swaps is now in beta.

Colin Harper

Puerto Rico Approves Combination Bank for Fiat and Digital Assets

The San Juan Mercantile Bank & Trust International, a Puerto Rican bank offering both fiat and digital asset custody and settlement services, is now operational.

Landon Manning

What Is DeFi and Where Does It Leave Bitcoin?

One of the most interesting things to emerge from the current bear market has been a concept known as “decentralized finance,” or "DeFi," manifested primarily by services that allow you to earn interest or borrow against your cryptocurrency holdings.

Michael Taiberg