Huobi has announced it will list four U.S. dollar-pegged cryptocurrencies this week, making it the latest major exchange to do so in wake of recent issues surrounding the tether cryptocurrency.
Huobi is also the fourth-largest trading platform for the trading of U.S dollar-pegged stablecoin tether (USDT), with $231 million-worth changing hands in the last 24 hours, according to CoinMarketCap data.
A spokesperson for Huobi told CoinDesk that its existing support for USDT will continue as usual.
Livio Weng, VP of Huobi Group, said:
The exchange added that, since the total capitalization of the stablecoin market is still relatively small and not suitable for large-scale trading, it is also seeking institutional investors and over-the-counter traders to sign up as market makers.
The news comes a day after USDT saw a crash in price to 18-month lows amid concerns over whether its developer holds enough dollars to fully back the assets.
Tether later issued a statement claiming that all of its USDT in circulation are "sufficiently backed by U.S. dollars and that assets have always exceeded liabilities."
Just yesterday, the Hong Kong-based crypto exchange OKEx, currently the third-largest platform by volume, also announced it will add the same suite of stablecoins, starting the roll-out process today
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