Huobi cryptocurrency exchange will transition its HUSD token from its current stablecoin system to an ERC-20 token through a partnership with crypto startups Stable Universal Limited and Paxos Trust Company.
Per a press release published on July 17, Stable Universal will develop a new ERC-20 HUSD Token, which will be pegged to the United States dollar and held in reserve by the New York State Department of Financial Services-regulated custodian Paxos. Huobi will be the first platform to list HUSD Token.