The HUSD team is dedicated to creating a safe and interoperable stablecoin that is tied to the US dollar. Stablecoins are a fast-growing category that might be the missing element in widespread crypto acceptance, according to the creators.
The HUSD cryptocurrency is built on the Ethereum blockchain and is a token. HUSD is an ERC-20 token, which means it may be used in Ethereum-based applications. When a user needs to redeem HUSD, they transfer tokens to a Stable Universal-controlled address. Tokens are converted into fiat cash and sent to the user’s bank account there (through Paxos). HUSD may now be used as a substitute for fiat currencies by dealers and exchanges.
In 2019, developers unveiled the HUSD. Stable Universal later distributed HUSD in accordance with all US legal standards. This firm recruits competent programmers to ensure that end-users receive the safest and most dependable services possible. HUSD is backed 1:1 by US cash stored in US bank accounts and is released as an ERC-20 token on the Ethereum network. The Paxos Trust Company has the HUSD token in reserve. This action is necessary to ensure that the regulatory authorities offer supervision and support. A major US auditing organization performs tests every month to guarantee that USD reserves and HUSD supply are aligned.
What is HUSD [HUSD]?
HUSD is a safe, dependable, and fiat-backed stablecoin. It blends the US dollar’s reliability with the efficiency of blockchain technology. It also gives holders a tool for reducing volatility while trading on the bitcoin market. The development team concentrated on security, liquidity, and ease when creating the project. HUSD was developed to guarantee price stability and ease interactions with global markets in order to attract a serious crypto trading audience.
Who Are the Founders of HUSD [HUSD]?
Stable Universal was founded by Frank Zhang, who is also its CEO. Stable Universal is based in Hong Kong’s Central District and works in the Financial Services industry. Zhang formerly worked as a BSA Officer, AVP at the Bank of China (New York).
Another prominent name in the development of the HUSD staff is Claude Gu. At Stable Universal, he is the Senior Overseas Operations Manager. Gu studied at Hong Kong Baptist University, where she did her master’s in digital and graphic communication. In 2016, he worked at SAME SAME but was unique as a Senior Digital Account Executive (Paris). In 2018, he worked at Lenovo (Beijing) on Corporate Social Media Operations before joining Stable Universal in 2020.
HUSD’s other cofounder is Shi Deng. At Stable Universal, he is the designated BSA Officer and Compliance Director. Deng received his legal education at Fudan University and Fordham University (Master of Laws). In the year 2019, he joined Stable Universal.
What Makes HUSD Unique?
What makes HUSD unique is the basic concept behind the stablecoin was to merge four others — Paxos Standard (PAX), True USD (TUSD), USD Coin (USDC), and Gemini Dollars (GUSD) — into a single HUSD token.
Paxos Trust Company holds each dollar backing the HUSD token in custody. This indicates that the HUSD token satisfies the industry’s recognized stablecoin criteria. It is fully connected with Huobi Global, one of the most well-known and liquid cryptocurrency exchanges.
The platform uses a service developed by Stable Universal for quick and easy login (and logout). You may simply acquire and redeem HUSD tokens with its assistance.
Where Can You Buy HUSD [HUSD]?
The stablecoin solution enables shareholders to deposit and withdraw stablecoins. HUSD (HUSD) tokens are now available for purchase on over two dozen exchanges, including many top-tier platforms like Gate.io, MDEX, Huobi Global, Hotbit, Hoo, 0x, Pionex, Tokenlon, NUT MONEY, and BHEX (BlueHelix Exchange).
Frequently Asked Questions
Is it possible to purchase HUSD with cash?
No. HUSD is currently unavailable for purchase using fiat currencies on any of the supported exchanges. You may, however, buy Bitcoin with fiat currency and subsequently convert it for HUSD.
How does the HUSD Network keep its data safe?
HUSD transactions adhere to the guidelines established by ERC-20 smart contracts. This element eliminates the need for third parties by relying on a safe and proven blockchain network. HUSD has been audited and secured by SlowMist, and the platform conforms with KYC and AML laws.
On what factors the price of the HUSD Network [HUSD] Depends?
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact HUSD’s price and market cap.
HUSD Official website – http://www.stcoins.com/
HUSD Medium– https://medium.com/@Stablecoin_HUSD