TechFlow News – According to overseas media reports, Huobi Trust Company, a licensed trust company in Nevada, U.S., announced on June 24 that it has been appointed by the USD-compliant stablecoin HUSD as its new custodian. Authorized by the Division of Financial Institutions of the Nevada Department of Business and Industry, Huobi Trust Company will assume custody responsibilities for HUSD starting July 2021.
Huobi Trust Company will provide 1:1 USD-pegged custodial services for HUSD in circulation and offer a range of compliance services to Stable Universal, the issuer of HUSD. The USD reserves held by Huobi Trust Company will be audited and verified by an independent U.S. certified public accounting firm.
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