THELOGICALINDIAN - On June 12 the cryptocurrency barter Coinex appear the advertisement of a new Simple Ledger Protocol SLP badge alleged honestcoin USDH The Honestcoinio website capacity that the new badge is a absolutely adapted stablecoin issued on the Bitcoin Cash arrangement backed 1to1 for US dollars
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Coinex Lists the USD-Backed Stablecoin USDH
The agenda bill trading belvedere Coinex, an barter able-bodied accepted for alms a advanced ambit of BCH commutual markets, has announced the advertisement of a new stablecoin backed by USD alleged honestcoin (USDH). The USDH account was absolutely leaked on June 11 back addition acquaint the website abode to the appointment r/btc, but at the time no one accepted what the website meant. The being who leaked the advice stated that the “official account comes later, this stablecoin has been discussed for one year in the Chinese association — It is adapted by the U.S. government.”
The official account came back Coinex divulged advice about the USDH advertisement 12 hours after on Twitter. The cheep again led to a blog advertisement which explained that the trading platform’s admiral had absitively to account honestcoin.
“To accommodate a added alternative of crypto trading options for Coinex users, we accept decided, afterwards accurate advertisement reviews, to account honestcoin (USDH) on Coinex,” the blog column notes. The Coinex blog continued:
‘For the Freedom of Money’
Following the advertisement announcement, Coinex architect Haipo Yang declared that he was “excited” to see the aboriginal SLP badge listed on the exchange. USDH can calmly be viewed on the SLP transaction charlatan Simpleledger.info and currently there are 11,030 USDH in apportionment and the minting billy cachet is alive. SLP tokens like USDH can be advised with a minting billy which agency that the billy buyer can affair added USDH.
Honestcoin is trading live on Coinex for $1 at the time of autograph as it’s commutual with the Omni Layer issued stablecoin binding (USDT). The Honestcoin.io website shows that individuals and institutions can assurance up to buy and redeem USDH. “For the abandon of money,” the token’s website byword declares and mentions that honestcoin is a “fully adapted stablecoin that can be bought, sold, invested in or spent as advisedly as you wish.”
Signing up for the website’s casework at aboriginal takes an email and countersign to log in to the dashboard. The signup action itself is far added circuitous and asks for claimed identification advice and photos. The website states that in the approaching users will be able to aggregate payments with honestcoin and the armpit shows a examination of a acquittal balance with QR code. After the KYC analysis action is complete, users can admission the buy and advertise options accessible on the Honestcoin.io website. Account allotment is appropriate to advance the site’s casework but bodies can additionally buy and advertise USDH application Coinex.
The barrage of the new honestcoin badge appliance the Simple Ledger Protocol agency that users can abundance USDH on wallets like Badger, Ifwallet, Electron Cash, and added SLP acknowledging wallets. The coin’s website additionally hints at a smartphone appliance alleged Honestpay and addition appliance that will acquiesce users to advance with USDH. The website shows that the activity is backed by the allotment firms Preangel, Cryptodiva, Block VC, Ciming Checkup, and Manzi Fund.
What do you anticipate about the new SLP-based honestcoin (USDH) advertisement on Coinex? Let us apperceive what you anticipate about this accountable in the comments area below.
Image credits: Shutterstock, USDH, Honestcoin.io, Coinex, Twitter, Ifwallet, and Simpleledger.info.
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