Huobi Global Joins Okex & Bitfinex In Listing More Stablecoins

Yet another major cryptocurrency exchange, Houbi Global, lists stable coins Paxos (PAX), USD Coin (USDC), Gemini Dollar (GUSD) & TrueUSD (TUSD).

The exchange has announced plans to list stablecoins PAX, TUSD, GUSD & USDC.  The exchange reports the stablecoins deposits will be available on from October 19, 2018 (GMT+8) and the start time will be announced later depending on the market conditions.

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Houbi Global is among the top 10 exchanges (by volume at the time of writing). They decide to release detail plan on Over-The-Counter (OTC) trading in the coming days.

Almost all of the top 10 cryptocurrency exchanges have decided to list more stablecoins in the past week due to tether’s ongoing controversy. The move of Houbi closely follows the second largest exchange, OKEX listing new stablecoins. OKEX announced their plans on October 15, 2018, to list PAX, GUSD, TUSD & USDC.

On the same day i.e. October 15, 2018, Paxos announced that it had issued a total of $50 million worth stablecoins Paxos Token (PAX). This decision follows the New York State Department of Financial Services (NYDFS) approves PAX token as a stablecoin on September 10.

BitPay announced merchant settlements using stablecoins GUSD & USDC on October 15, 2018. Merchants can now receive settlements for Bitcoin and Bitcoin Cash using these stablecoins. The user can also withdraw to fiat currencies.

Is this the era of stablecoins? What do you guys think? Read about why tether is in this controversy in our latest article.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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