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Huobi BTC is an ERC-20 token introduced by Huobi Global to supply Bitcoin liquidity to Ethereum decentralized applications. It maintains a one-to-one peg with Bitcoin and relies on Ethereum Proof-of-Stake for security. The asset enables participation in decentralized finance platforms while offering faster transaction processing and reduced handling costs.
Huobi Global introduced Huobi BTC (HBTC) in February 2020, aiming to supply Bitcoin liquidity to decentralized applications (dApps) built on Ethereum. This asset is an ERC-20 token on the Ethereum network that maintains a 1:1 peg with BTC. Consequently, HBTC holds a value equal to BTC while providing access to the Ethereum DeFi ecosystem.
Huobi Global, a crypto exchange established in China in 2013 and currently headquartered in Seychelles, provides numerous trading pairs and cryptocurrencies. The platform’s native coin is Huobi Token (HT). Beyond its exchange services, Huobi has also created a $100 million venture fund.
Leon Li established Huobi Global in 2013 and remains its CEO. He completed his studies at Tsinghua University in 2013. Before launching the exchange, Li was a computer engineer at Oracle Corporation, a major US software firm. The company is located in the Republic of Seychelles, whereas Huobi Asia operates out of Singapore and intends to relocate to Hong Kong.
HBTC acts as a connector linking Bitcoin to the Ethereum network, enabling participation in decentralized finance (DeFi) platforms such as Uniswap, Curve, and Balancer.
The token offers faster transaction processing and reduced handling costs. Fees are minimal because of support for two-way exchanges. Additionally, every transaction record is public, allowing users to verify the count of issued tokens within reserve pools.
By employing a multi-channel framework, HBTC lets users select the most advantageous channel for minting and burning. The tokens remain fully redeemable, backed by a 100% reserve.
Huobi BTC (HBTC) operates as an ERC-20 token on the Ethereum network. Because it maintains a 1:1 backing with Bitcoin, its circulating supply is tied to the volume of BTC reserves and the HBTC that has been minted. Currently, there are 8,969.5 HBTC in circulation.
Huobi BTC (HBTC) operates as an ERC-20 token on the Ethereum network, relying on Ethereum’s Proof-of-Stake (PoS) consensus mechanism for security. This energy-efficient algorithm employs randomly chosen validators to verify transactions and append new blocks to the blockchain.
HBTC is available for purchase on decentralized exchanges (DEXs) such as MDEX and MakiSwap, as well as on centralized exchanges (CEXs) including FMFW.io.