One year ago, Paxos partnered with Stable Universal and Huobi to launch a US dollar-backed stablecoin: HUSD. In that time, there have been more than $1.6 billion tokens issued and more than $3 billion worth of transactions processed. Today, HUSD is available in nearly 20 markets, across many exchanges, wallets, DeFi platforms and more. We’re proud of how much HUSD has grown in importance to crypto users – and to our partners at Huobi and Stable Universal.
So how does Paxos support HUSD? Paxos is the custodian of all the dollars underlying HUSD tokens, so we can offer additional capabilities to users of HUSD. For example, Stable Universal was the first customer to use our Fiat Gateway API solution, allowing its customers to safely and efficiently deposit and withdraw dollars. Huobi was then the first customer to use our Stablecoin Swap solution, making it easy for its customers to exchange stablecoin currencies 1:1. These are two simple, yet innovative, ways to work with Paxos to offer safe, trusted, fully-backed and easy-to-use stablecoins with the support of our regulatory status.
Paxos is proud to now power 3 of the top 6 stablecoins in the world. And as the first regulated Trust company and qualified custodian for digital assets, Paxos has unique expertise in this market. If you’re interested in learning more about our Stablecoin as a Service, connect with our team today.