Stable Universal Extends Support for HUSD Stablecoin to Public Chain HECO
HECO users can now access and redeem HUSD through their Stable Universal accounts
29 Sep, 2021, 08:00 ET
LONDON, Sept. 29, 2021 /PRNewswire/ -- Stable Universal Limited, a U.S.-based crypto startup venture, today announced that HUSD, the US dollar-backed stablecoin, is now available on the HECO chain. The integration will enable HECO users to deposit U.S. dollars in their accounts on Stable Universal and receive HUSD at a 1:1 ratio sent to their preferred crypto wallets.
Launched in 2019, HUSD is one of the top stablecoins in the market, supported by 100+ CeFi and DeFi platforms and applications. Combining the stability of the U.S. dollar (USD) with the efficiency of blockchain technology, HUSD offers HECO users access to a safe, secure, and convenient asset for remittance, commerce, payments, trading, decentralized finance (DeFi) services, and more.
The launch of HECO HUSD marks an important milestone for both projects as the DeFi industry continues to boom. Today, more than $100 billion worth of assets are invested in DeFi projects around the world.
"Stablecoins play an important role in building a healthy DeFi ecosystem. The security, liquidity, and convenience of HUSD makes it a natural choice for HECO as we ramp up development in DeFi and other emerging sectors," said Leo Su, Head of HECO Chain. "We look forward to the many opportunities that will emerge as a result of this integration, and will continue to provide our developers and teams with the resources they need to bring their projects to life."
All registered HUSD accounts will fully support HECO HUSD. To access HUSD through HECO, users can simply transfer USD to their Stable Universal accounts, purchase HUSD, and send the HUSD to their HECO wallet addresses. HUSD users can also redeem HUSD for USD through their accounts hosted on the Stcoins website (www.stcoins.com).
In the future, Stable Universal will continue to support HUSD as it is integrated with more blockchains and ecosystems.
"Now that HUSD is available on HECO, we look forward to seeing the new innovative use cases for stablecoin and blockchain technology that arise," said Frank Zhang, CEO of Stable Universal Limited. "Cross-chain interoperability is important for the blockchain community as users need access to a wide array of platforms and protocols for their trading needs, so we will continue to expand HUSD support to other exchanges, wallets, and protocols in the future."
About Stable Universal Limited
Stable Universal Limited is a U.S.-based technology startup venture. Its first offering is the U.S. dollar-backed stablecoin HUSD Token, available at www.stcoins.com for use on the Huobi exchange.
HECO is an EVM-compatible public chain that provides blockchain developers with an efficient and low-cost on-chain environment for decentralized applications (dApps), smart contracts, and digital assets. HECO has recorded approximately 11.5 million total addresses with 438 million transactions made on the platform.
SOURCE Stable Universal
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