Blockchain
Stable Universal Partners With Paxos And Huobi To Launch New Stablecoin: HUSD
Stable Universal Limited, a U.S.-based crypto startup venture today announced it will launch a new U.S. dollar-backed stablecoin, HUSD Token. To ensure full backing of every HUSD Token and regulatory oversight, the dollars backing HUSD Token will be held in reserve by Paxos Trust Company, a fiduciary and qualified custodian regulated by the New York State Department of Financial Services (NYDFS).
HUSD Token will first be listed by Huobi Global, the world’s leading digital asset trading platform. In the coming days, Huobi will transition from its current HUSD system (a solution that allows multiple stablecoin denominations to trade as one) to the new HUSD Token issued by Stable Universal. HUSD Token, designed as an ERC-20 token, will also be available to be listed on other exchanges, wallets and cryptocurrency platforms.
Frank Zhang, CEO of Stable Universal, said, “In today’s cryptocurrency markets, traders always need access to a safe, trustworthy stablecoin that is fully redeemable and limits risk exposure. HUSD Token is reliable and designed to be efficient and simple – we believe it’s the best fiat on-ramp and will be a game-changer in the space. We’re excited that Huobi will list HUSD Token, allowing us to build liquidity quickly with their massive customer base. Combined with the sterling reputation of Paxos, we are offering a product with the highest level of oversight and protection.”
In addition to trading HUSD Token on Huobi Global, users can also get HUSD Token 1:1 for USD through Stable Universal by opening an account on www.stcoins.com. Paxos will manage all “Know Your Customer” and anti-money laundering compliance reviews for these account openings, in addition to holding the USD deposits in reserve. On a monthly basis, a top U.S. auditing firm will perform an attestation to ensure USD reserves match the supply of HUSD Token. Stable Universal will work with third parties for smart contract audit and on-chain transaction monitoring.
Richmond Teo, Paxos Co-Founder and CEO of Paxos Asia, commented, “Paxos maintains a unique position in the crypto-asset space because of our regulatory stack and deep commitment to protecting customer assets. Trust underpins all aspects of our own products, and we are proud to now offer trust-as-a-service to power HUSD, a new stablecoin for use on Huobi Global. This is a new model that allows other innovators to create safe, trusted and fully-backed solutions that support wider crypto-market adoption for cash and assets using our unique regulated status. This is just the beginning of what Paxos can offer as we build the future of digital assets.”
Livio Weng, CEO of Huobi Global, commented, “Providing better options to our users has always been one of our biggest priorities at Huobi. We are proud to partner with Paxos and Stable Universal on this pioneering project and look forward to bringing the new HUSD Token to more than ten million users. It is truly exciting to see the HUSD project grow from a stablecoin solution to a stablecoin in its own right.”
SOURCE Paxos
Blockchain
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Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
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