Announcement on the Migration of H-Tokens Anchored Assets to Huobi Trust Compliant Custody

Dear Valued Users,

Since inception of the official launch of the H-series assets (H-Tokens) in January 2020,  H-Tokens have been trusted and loved by users, and have bridged a gap between centralized markets and DeFi markets thanks to its merits such as a guarantee of excess reserves, openness, transparency, verifiable reserve assets, and thorough and detailed evaluation of exchange tokens.

Up until now, H-series assets have evolved from a single HBTC asset to a mainstream blockchain asset class that boasts a total of seven H-Tokens (including HBTC, HBSV, HLTC, HBCH, HDOT, HFIL, and HXTZ), and is supported by a $1.5 billion net worth of issuance size.

H-Tokens are currently engaging with  multiple Ethereum mainstream DeFi protocols. They are also circulating on the HECO chain as prime assets. In the course of development, the use of a team custody model for collateralized staking assets has led to certain resistance in accessing more DeFi protocols. Because of this reason, the team has decided to hand over these collateral assets to a professional asset custody compliance agency. This move will be of great benefit to the long-term development of H-Tokens.

 

Huobi Global

June 22, 2021

 

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Huobi Global reserves the right in its sole discretion to amend, revise or cancel this announcement at any time and for any reasons without prior notice.