Huobi’s multi-currency wallet, Huobi Wallet, has added support for an EOS-based stablecoin called EOSDT, the eight stablecoin the Huobi Group’s wallet supports.
According to a press release shared with CryptoGlobe, Huobi Wallet and Equilibrium, the framework behind the EOSDT stablecoin, partnered so the multi-currency wallet supports the decentralized EOS-based stablecoin as well as the NUT token.
Huobi Wallet will also reportedly be launching the Equilibrium decentralized application, which will give its wallet’s users a “simple native interface for generating EOSDT” and managing their positions with it. The press release notes Equilibrium was launched in April of 2019, and is a fast-growing framework that collateralized “over 4 million EOS valued at roughly $18 million.”
Its users have reportedly already generated about 5.3 million EOSDT tokens since it was launched, and are earning a 0.3% profit on their collateral. It claims to also support a CPU and NET resource rental market, with liquidity of over 100 million EOS.
The addition of the EOSDT stablecoin means that Huobi Wallet will now support eight stablecoins – PAX, TUSD, USDC, EURS, DAI, GUSD, USDT, and EOSDT – as well as various other cryptocurrencies, including BTC, ETH, and LTC.
Will Huang, the CEO of Huobi Wallet, was quoted as saying:
Our users have a strong demand of stable coins, and Huobi Wallet will keep supporting more of them based on the market’s demands and users’ choice. EOSDT, which is based on EOS, plays a critical role in the EOS ecosystem, and we are pleased to support it in Huobi Wallet.
The Huobi Wallet allows users to control their private keys while supporting various cryptocurrencies, and competes with other multi-currency wallets like Binance’s Trust Wallet, Coinbase Wallet, and more. This year the wallet also revealed it was going to be a Tezos (XTZ) baker, allowing users to earn on their holdings.