Huobi CFO: Stablecoins Will Last the Crypto Winter
It is freezing cold as we continue finding our way out the trenches of the harsh crypto winter. Yet, it appears that one particular exchange is warming up and emitting positive rays about the market despite its recent dips.
Above: Chris Lee, CFO of Huobi Group, speaks at a Huobi event in Singapore (Credits: asiaone)
On 22 January, Huobi Group, one of the world’s leading digital asset trading platform, was in Singapore for the day attending an exclusive event co-sponsored by LiquidStone. The invitation-only function was attended by Chris Lee, CFO and Board Secretary of Huobi Group, and 150 other blockchain professionals and institutional traders.
During the event, Huobi Group unveiled its plans to continue its expansion into international markets while scheduling regular updates on its trading platform to ensure quality client experience. The company intends to significantly upgrade its trading system and develop its regional presence, especially through the recently re-launched Huobi Japan exchange. It also has plans to expand its expertise into the field of stablecoins.
Concluding his speech, CFO and Board Secretary of Huobi Group Chris Lee said: “This year will be huge for stablecoins and we will be a part of that. Likely Huobi Group will launch its own stablecoin in 2019 in the first half of the year.”
Huobi’s decision to create its own stablecoin is a signal to other exchanges the way to move forward in this bearish market. Currently, the Huobi exchange has already adopted 4 of the most popular stablecoins including Paxos Standard (PAX), True USD (TUSD), USD Coin (USDC), and Gemini Dollar (GUSD) and launched their own called HUSD, which is an aggregate of the 4.
It is to no surprise that stablecoins continue to enjoy huge popularity amongst the crypto crowd. Its advantages are numerous — it is a great introduction to the market of digital assets, a stable currency in bearish market outlooks, and a digitised fiat currency that moves freely between traditional and crypto financial transactions. In fact, considering its high functionality and multiple facets, it is to no wonder why many companies like Huobi Group are choosing to adopt stablecoins as a way to wait out this crypto winter.
With the winter showing no signs of letting up just yet, it is time to make a wise decision and follow the leading exchanges by placing your trust in stablecoins like 1SG. They are certainly well-equipped to insulate you against the bitter cold.
About 1SG:
1SG is a stable coin, issued by the Mars Blockchain Group which overcomes the problems of today’s cryptocurrencies, while providing open, transparent, efficient KYC/AML process. With the key features of stable value and high liquidity, Mars Blockchain is a start-up committed to becoming a leading stable coin in global cryptocurrency market. 1SG circumvents the volatility of other major cryptocurrencies by maintaining a fixed peg to $1 SGD through financial markets.
For more details, check out www.1.sg
To trade 1SG now, head over to these exchange platforms:
P2PB2B: https://p2pb2b.io/
BitMart: https://www.bitmart.com/
TOP.ONE: https://top.one/index
Kryptono: https://kryptono.exchange/k/home
OEX: https://www.oex.com/index
For more information on 1SG, keep up with its following social media:
Telegram: https://t.me/SGone
Reddit: https://www.reddit.com/user/1-SG/
Twitter: https://twitter.com/1SG_2018
Instagram: https://www.instagram.com/1sg_sg/
YouTube: https://www.youtube.com/channel/UC_p_8y1geOe0lmB4F3i6Fpg
