A cryptocurrency exchange with its headquarters in Seychelles is called Huobi. It is well-known for having approximately 400 cryptocurrency trading pairs available. Additionally, it is a token that can be exchanged on the platform for different cryptocurrencies.
Huobi launched its token, Huobi Token (HT), in January 2018. According to Coin Market Cap, it is one of the top 100 cryptocurrencies by market cap.
Similar to other cryptocurrency exchanges, Huobi runs well. The platform allows for the buying and selling of cryptocurrencies, generating revenue by charging a transaction charge.
Focusing on stablecoins backed by the US Dollar is a relatively recent modification made by the exchange. Because the value of these coins is tied to the US dollar, market volatility is less likely to affect them. Paxos Standard, True USD, US Dollar Coin, and Gemini dollars are the four stablecoins that can be deposited; the other two are immediately converted into Huobi’s HUSD.
Stay tuned with CoinGape to know the recent updates about Huobi and how it affects market volatility.