HUSD, the US dollar-backed stablecoin, is now accessible on the HECO chain. The announcement comes from Stable Universal Limited, a crypto company located in the United States. HECO enthusiasts now can acquire and redeem HUSO via Stable Universal accounts. By leveraging blockchain technology and the permanence of the U.S dollar, HUSD strives to be liquid, efficient, and secure. In just a short time, the emerging stablecoin has amassed 11.5 million addresses.
The Stable HUSD
HUSD, which was launched in 2019, is one of the fastest-growing stablecoins on the market, with over 100 CeFi and DeFi platforms and applications supporting it. HUSD combines the security and convenience of the US dollar (USD) with the efficiency of blockchain technology. This is providing HECO users with a safe, secure, and convenient asset for remittance, commerce, payments, trading, and decentralized finance (DeFi) services, among other things.
Advantages Of HUSD Stablecoin
Safety and reliability
HUSD is an Ethereum-based cryptocurrency with a high degree of decentralization and security. Stable Universal has gained the support of industry experts to provide consumers with secure and dependable services. According to Stable Universal, the HUSD token is backed by the U.S. dollar at a 1:1 ratio, in which the capital is placed at a U.S. trust company. Stable Universal also mentions that monthly audits are facilitated by independent agencies to ensure transparency. According to a Twitter post, an attestation report was supplied by Eide Bailly in August.
The August @Stablecoin_HUSD attestation report from @EideBaillyLLP is out! As of August 31, 2021 the total $HUSD circulating supply is 463,535,522, with 463,917,126 USD in reserve.
Check out Details: https://t.co/PUryMSdD1U pic.twitter.com/aesEBaly4D
— HUSD (@Stablecoin_HUSD) September 30, 2021
HUSD was formulated on the Ethereum network, which avails a secure and decentralized infrastructure. As skilled developers continue to join Stable Universal, they believe these features will only get stronger in the long term.
According to an announcement:
“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.”
As additional blockchains and ecosystems are connected with HUSD, Stable Universal will continue to support it.
CEO of Stable Universal Limited Frank Zhang stated
“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 stationed in the United States as a tech startup venture. The HUSD Token, which is backed by the US dollar, is the company’s initial offering. At its core, the HUSD token is combining features of the US dollar with the coherence of blockchain technology.
HECO is an EVM-compatible public chain that offers blockchain developers a low-cost on-chain environment for decentralized apps (dApps), smart contracts, and digital assets. HECO has registered about 11.5 million total addresses and 438 million platform transactions.