The Huobi cryptocurrency exchange has announced plans to list four new stablecoins linked to the U.S. dollar. According to a message on the Twitter account, TrueUSD (TUSD), USDCoin (USDC), Gemini Dollar (GUSD) and Paxos (PAX) will appear on October 19.
At the same time, Huobi stresses it doesn’t intend to abandon Tether, which occupies a leading position among the stablecoins in the market. Livio Weng, VP of Huobi Group, said:
“Tether is one of the biggest stablecoins in the market, and realistically it will take some time before other stablecoins can catch up. We currently have no plans to restrict trading, deposits, or withdrawals in regards to Tether. However, in the interest of providing users with more choice, we are also in the process of listing several new stable coins.”
He also drew attention that the total capitalization of the stablecoins market is still small, so investors won’t be able to use them for large transactions. But tokens have a potential for growth, so Huobi offers institutional investors and over-the-counter traders to become market makers.
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