Crypto exchange Huobi will delist the HUSD token

Crypto exchange Huobi will delist the HUSD token

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Withdrawals and deposits in HUSD will be available until 11 a.m. on Oct. 28 Crypto exchange Huobi Global will delist the HUSD token. The platform announced that it will stop trading the token starting at 11:00 a.m. Moscow time (08:00 a.m. (UTC)) Oct. 28. Until then, withdrawals and deposits in Stablecoin will be available.

HUSD is a stabelcoin whose exchange rate is pegged to the U.S. dollar exchange rate. It was released in 2018 by cryptocurrency exchange Huobi. Its market capitalization as of October 27 is $186 million and daily trading volume is $83,000.

After delisting, users' assets in HUSD will be converted to USDT at a ratio of 1: 1. It will be announced additionally on completion of the convertion, which is anticipated to take effect before Nov. 4, 2022.

The Huobi team has asked users to immediately cancel all open orders with the HUSD token. Otherwise, they will be automatically cancelled after 11:00 a.m. Moscow time on October 28. The respective holdings will be deposited into spot accounts of users to be exchanged into USDT.

On October 10, Huobi removed 21 trading pairs with the HUSD token. The platform team asked users who own cryptocurrencies from the list of deleted pairs to pair them with assets other than HUSD.

 

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Author: soft4bro

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