Huobi Launches OTC Trading Desk

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With blockchain week in full swing, many projects and companies throughout the space have come armed to share major announcements and developments with the space. Among the most recent launches comes from top cryptocurrency exchange, Huobi. At the “Breakfast with Huobi” meetup on the morning of May 14th in New York City, executives from Huobi Group, the company behind major exchange Huobi, shared some updates and expectations for different components of their crypto-finance ecosystem. Their stablecoin, HUSD, is being upgraded to HUSD 3.0, which will offer a number of new features- like futures trading and lending. HUSD is a stablecoin pegged to US$1 and backed by a market basket of other stablecoins in the space. The most exciting announcement, however, is the launch of the Huobi OTC desk. Officially, the OTC (over-the-counter) desk launched yesterday, May 13th. With the OTC desk, users can make fiat-to-crypto or crypto-to-crypto transactions with USD…

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