Huobi Global, a Singapore-based crypto exchange, has now extended its support for HUSD which is a USD-backed stablecoin. The platform announced on Friday that it has launched trading in HUSD. This will help meet the trading demand for the users of the platform. The exchange has now launched spot trading on two different trading pairs with HUSD, VET/HUSD and BTM/HUSD. A number of crypto trading and Defi platforms have supported HUSD.
Huobi Expanding its Offering Across its Platforms
From the past some time it has been seen that Huobi has been expanding its offerings very actively across all of its platforms. In fact, three weeks ago on September 1, Huobi Futures also launched trading for Bitcoin Options. The firm has added “call options” that will provide a right to purchase the underlying asset at any particular price and date to the buyers, which will ease things for them.
Ciara Sun, Vice President of Global Business at the exchange, has said that there has been a huge surge in derivatives trading volume amid the COVID-19 pandemic across the board.
Brokerage and Trading Providers Expanding Their Trading Offering
It has been seen that during the COVID-19 pandemic, there has been a very competitive trading environment. This is the reason why a lot of brokerage and trading providers have rapidly expanded their trading offerings. The ones which are multi-asset trading providers tend to capitalize on the heightened trading activity. This has been done amid the heightened levels of volatility in the market. It has been seen that trading providers are now aiming to capture the millennial market. This will be done by launching the commission-free trading of stocks and digital assets. Along with this, it will also provide options to make the smaller investments. By adding support for HUSD, Huobi has now simply expanded its network in spot trading.