The USDD algorithmic stablecoin is now listed against Huobi Token (HT), the native token for Huobi. The exchange now hosts USDD/HT, USDD/BTC, and USDD/ETH.
This is the latest step in the exchange’s plan to expand internationally. The development follows the announcement of a change in the exchange’s controlling shareholder and the addition of Tron/USDD creator Justin Sun to its Global Advisory Board.
Following Sun’s arrival, Huobi announced a slew of initiatives aimed at strengthening its position as a leading crypto exchange while adding value for HT holders. One such initiative is the introduction of Zero transaction fees for all 11 USDD trading pairs.
Meanwhile, the listing comes only weeks after Dominica made USDD and another Tron-based crypto legal tender.
Additionally, it was disclosed that the Dominican government would give all Tron-based digital assets statutory status. Tron has also been increasing its holdings of all Dominica legal tenders, with more than $236 million added over the past month.
Huobi is the newest business endeavor and one of Sun’s many pet projects. After directing a plethora of decentralized initiatives, including TRON, BitTorrent, and USDD, Sun seems to be looking to enhance his profile as a blockchain entrepreneur even further.
Earlier this month, the Tron founder expressed his interest in buying assets or shares of the Swiss financial services group Credit Suisse. Sun also said he wants to bring the global investment bank to the Web3 ecosystem.
Furthermore, he also eyed acquiring Twitter back in April, even outbidding Elon Musk’s proposed $54.20 per share deal to acquire the social media giant.
Huobi Token (HT), the exchange’s native token, saw its value increase from the $4.10 mark on 10 October 2022 to a high of $8.11 on 14 October 2022 as a result of the positive developments. The token’s market cap roughly doubled from $628 million to $1.25 billion within the same time frame.
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Source: Cryptocurrency - investing.com
