Huobi Trust Officially Becomes New Custodian for USD-Compliant Stablecoin HUSD

Huobi Trust Company, a Nevada-licensed trust company, announced on June 24 that it has been appointed as the new custodian of the USD-compliant stablecoin HUSD, according to overseas media reports. Huobi Trust Company has been licensed by the Nevada Department of Commerce and Industry’s Division of Financial Institutions and will take over custody of HUSD in July 2021.
Huobi Trust Company will provide a 1:1 anchor to the U.S. dollar for HUSD in circulation, as well as a range of compliance services for Stable Universal, the issuer of HUSD, and the U.S. dollar reserves held in custody by Huobi Trust Company will be audited and verified by an independent U.S. certified public accounting firm.

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