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HUSD (HUSD) is the 2946th largest cryptocurrency in the world by market cap, valued at $27,496,602. The current price of HUSD is $0.99970008997301, which is 3.172% higher than yesterday. Prices have ranged between $0.150363 and $0.140677 over the past 24 hours. All prices are listed in US dollars and accurate as of February 03, 2023 04:02 UTC.
Launched in 2018 by the Huobi global exchange, HUSD was originally designed as an aggregate stablecoin that offered access to Paxos Standard (PAX), USD Coin (USDC), True USD (TUSD) and Gemini USD (GUSD) on the Huobi exchange. According to Messari, in 2019 a Huobi-backed startup, called Stable Universe, decided to launch HUSD as a standalone stablecoin utilising the ERC-20 (Ethereum-based) token standard.
Like all other stablecoins, it offers a way to reduce price volatility while trading in the cryptocurrency markets. The token is backed 1:1 by physical US dollars held by Paxos trust company, who are regulated by the New York State Department of Financial Services (NYDFS). To ensure all tokens are backed 1:1 by reserves, monthly audits are completed by an independent US audit firm, Grant Thornton. Alongside avoiding price volatility, HUSD can be used for the payment of goods and services.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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