Huobi Global, a cryptocurrency exchange, has partnered with Reserve, the PayPal-style payment solution, for the third launch of Huobi Prime, a new platform for emerging premium coins.
Image: Huobi to launch Reserve stablecoin on Houbi Prime. Photo: Courtesy of WorldSpectrum/Pixabay.
Huobi Global said that Huobi Prime will list Reserve Protocol’s Reserve Rights Token (RSR) later this month. RSR is claimed to have designed to offer stability to Reserve’s United States Dollar-pegged stablecoin Reserve Token (RSV).
“The overall project’s mission is to build a universal store of value – particularly in regions with unreliable banking infrastructure and/or where inflation is a major issue.
“The concept of Reserve is to protect against inflation, act as a system to make everyday payments, and serve as a cost-effective way to send money across borders,” Huobi Global said in a statement.
Launched in March, Huobi Prime will immediately deposit all the coins purchased through platforminto the users’ accounts. The coins can also be traded on the platform against Huobi Token, which is its native token.
The platform also features only those projects that have been rigorously screened, which are yet to be listed on any major exchange. It also promises early access to coins at below the market prices. It will also be open for big and small players and for average users.
Huobi Global CEO Livio Weng said: “Reserve truly has it all; an outstanding founding team that includes former members of Google, Tesla, OpenAI, IBM, MIRI, Impossible Foods, and The Jane Goodall Institute; backers like Peter Thiel, co-founder of PayPal, Sam Altman of YCombinator, Ran Neuner, and Mike Arrington of TechCrunch; and a truly innovative business model and mission.”
Reserve co-founder and CEO Nevin Freeman said: “Over 300 million people live in countries without stable currencies, resulting in dramatic losses of wealth and overall instability in these countries.
“The world needs a stable, global, digital currency that gives people and businesses autonomy.”
Huobi also claims that during its first two launches, it sold nearly 2 billion NEW, the native token of Project Newton and 1.5 billion TOP, the native token of Top Network.