Huobi Global, a self-described “world-leading company in blockchain industry with a mission to making breakthroughs in core blockchain technology and the integration of blockchain technology and other industries,” has officially announced its intention to bring its H-token series to the Ethereum platform, according to a press release from the group.
This H-Token series is considered a “suite of assets” issued on the Ethereum blockchain and are value-backed by other assets on the same network. This follows Huobi’s issuing of HBTC, an asset that plans to link traditional and decentralized finance, the release continues.
As of now, the platform has minted around 5,000 HBTC. These assets ensure that users can take advantage of protocols like Uniswap, Nest, ForTube, and other platforms. That and it has been used as DAI collateral on MakerDAO as well.
Today, Huobi is launching tokens corresponding to DOT, LTC, and BCH, the release also notes. Combined, the market cap of these three equals $1.1 billion.
“The issuance of the H-series assets will allow more users in the crypto world to benefit from DeFi, accelerate the development of the Ethereum DeFi ecosystem, and promote the growth of Ethereum-based assets. As a bridge between centralization and decentralization, Huobi aims to make assets freer and allow hundreds of millions of people around the world to truly benefit from the development of DeFi,” the release concludes.
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