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HUSD Now Available on Nexo

Sep 17, 2020·2 min read
Product
HUSD Now Available on Nexo

We are happy to announce that Nexo now supports HUSD. This latest asset integration lets you borrow against your HUSD via the Instant Crypto Credit Lines™, as well as receive up to 10% interest on HUSD via our Earn on Crypto product.

This development comes after our long-term collaboration with Huobi, which started in March 2019 and recently saw the exchange list NEXO Token and USDT as an official trading pair on Huobi Global.

“The HUSD integration on Nexo solidifies our partnership with Huobi and Stable Universal as they offer incontestable benefits to both our communities. For the very first time, HUSD holders can earn interest on and use HUSD as a collateral and a repayment option for their fiat loans. We are excited to gain exposure to the growing Huobi & HUSD ecosystem and further tap into the experienced Asian cryptocurrency market,” said Antoni Trenchev, Co-founder and Managing Partner of Nexo.

"We are very excited by the support for HUSD from the Nexo team and community. The fast-moving demand for USD-backed stablecoins is reflected by HUSD being made available on key industry platforms like Nexo. We have high hopes for the great things to come both for this integration and for the stablecoin community at large," said Frank Zhang, CEO of Stable Universal, the issuer of HUSD.

HUSD is a stablecoin issued by Stable Universal limited and pegged 1:1 to the US Dollar. Launched in 2019 and built on the mature Ethereum network, it is supported by a number of applications in cryptocurrency trading, digital payments and the Decentralised Finance (DeFi) industry.

Making HUSD available on the Nexo platform provides the much-needed high-yield savings account for those seeking to grow their wealth through stablecoins even in today’s complicated financial environment.

Simultaneously, adding HUSD to Nexo’s credit lines increases the stablecoin’s utility features and makes HODLing stress-free. HUSD-backed loans allow investors to borrow against their digital dollars rather than selling them while benefiting from Nexo’s unrivaled interest rates and superior tax-efficient service.

Earn Interest on HUSD with Nexo

Our high-yield interest account ensures your HUSD keeps growing every day with:

  • Compounding interest of up to 10% on HUSD, paid out daily.
  • No minimum or maximum limits on funds deposited, offering infinite opportunities to earn.
  • Full flexibility with no lock-in periods, so you can withdraw your funds at any time.
  • All funds are asset-backed by Nexo’s portfolio of 200–500% overcollateralized crypto credit lines.

HUSD-Backed Instant Crypto Credit Lines™

With Nexo’s flagship Instant Crypto Credit Lines™, you benefit from:

  • The best borrowing rates, starting from 5.9% APR only on what you actually use.
  • Increased HUSD utility features, less selling pressure and easier HODLing.
  • Automated and guaranteed instant approval with no credit checks.
  • No installments, no minimum loan repayments, and local bank withdrawals within 24 hours.

As with all of Nexo’s services, our HUSD-holding users enjoy top-tier insurance on all custodial assets with SOC 2 Type 2-certified crypto custodian BitGo, #ZeroFees on all transactions, and worldwide availability in 40+ fiat currencies across 200+ jurisdictions.

About Nexo

Nexo is the world's leading regulated digital assets institution. The company’s mission is to maximize the value and utility of cryptocurrencies by offering tax-efficient Instant Crypto Credit Lines, high-yield Earn Interest products, Send & Pay, and sophisticated trading and OTC capabilities, while providing the top-tier custodial insurance and military-grade security of the Nexo Wallet. Nexo has processed $3+ billion for 800,000+ users across more than 200 jurisdictions.

Official website: https://nexo.io

About HUSD

HUSD is issued by Stable Universal and pegged 1:1 to the USDollar. Each HUSD issued is backed by a corresponding US Dollar held in a US trust company. An independent US audit firm conducts monthly attestations of the HUSD Token, and the attestation report is available for public viewing on stcoins.com.HUSD Token is built on the mature Ethereum (ETH) Network and based on ERC20 standards with high degrees of decentralization and security.

Official website: www.stcoins.com

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