Press Release (ePRNews.com) - GUATEMALA CITY - Dec 09, 2020 - VirgoX, a revolutionary stablecoin-focused digital asset trading platform, is pleased to announce that HUSD, a USD-backed stablecoin issued by Stable Universal, will be available to buy, sell and trade on VirgoX digital asset trading platform starting Dec. 10.
The stablecoins market has witnessed explosive growth in the year 2020, growing from $2.6 billion in May of 2018 to over $24 billion in December of 2020, according to Cryptoslate. Besides, the increase in popularity of DeFi has provided stablecoins with a lot more use cases.
HUSD is a U.S. dollar-backed stablecoin issued by Stable Universal Limited. Launched in 2019, it quickly became one of the fastest-growing stablecoins with its issuance number doubling in a span of five months following Bitcoin halving. The growing trend is spurred both by the continued ecosystem expansion and collaboration with popular projects – including platforms like digital asset exchanges, wallets, DeFi protocols, and fiat on-ramps – which made HUSD available to large communities. HUSD has recently surpassed 230 million in market cap and 2.75 billion in cumulative issuance.
Frank Zhang, CEO of Stable Universal, said, “We are excited that VirgoX has chosen to support HUSD on their platform. VirgoX’s vision to build its own stablecoin trading center is in line with HUSD’s goal to provide users with greater accessibility and interoperability. As the stablecoin market grows at a rapid speed, the HUSD Team is glad to be joined by projects like VirgoX to build the entrance to the blockchain world.”
“HUSD has been one of the highest-quality fiat-backed stablecoins since its existence,” Adam Cai, CEO of VirgoX, stated. “VirgoX is pleased to extend the partnership to Stable Universal and help HUSD expand its stablecoin ecosystem. More product offerings around HUSD will be coming, including trading, lending and borrowing, DeFi applications, payments, etc. We look forward to working with the HUSD team in the long term.”
VirgoX has listed a series of well-designed stablecoins to enhance its positioning of the World Stablecoin Trading Center. With its complete ecosystem ranging from spot & contract trading, stablecoins-empowered FX contract, global payments & remittance, crypto traders can experience a full-functioning stablecoin-focused trading platform. VirgoX will launch the stablecoin lending and borrowing model at the end of 2020 to meet the present needs of users and anticipate future demands.
VirgoX is a revolutionary one-stop stablecoin-focused digital asset trading platform inspired by global adoptions of stablecoins and growing demands for integrated exchange services.
HUSD is issued by Stable Universal and pegged 1:1 to the U.S. dollar. Each HUSD issued is backed by a corresponding U.S. dollar held in a U.S. trust company. An independent U.S audit firm conducts monthly attestations of the HUSD Token, and the attestation report is available for public viewing on stcoins.com. Stable Universal is dedicated to making HUSD stable, secure, and safe for customers.