On June 12, the cryptocurrency exchange Coinex announced the listing of a new Simple Ledger Protocol (SLP) token called honestcoin (USDH). The Honestcoin.io website details that the new token is a fully regulated stablecoin issued on the Bitcoin Cash network backed 1-to-1 for U.S. dollars.
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Coinex Lists the USD-Backed Stablecoin USDH
The digital currency trading platform Coinex, an exchange well known for offering a wide range of BCH paired markets, has announced the listing of a new stablecoin backed by USD called honestcoin (USDH). The USDH news was actually leaked on June 11 when someone posted the website address to the forum r/btc, but at the time no one understood what the website meant. The person who leaked the information stated that the “official news comes later, this stablecoin has been discussed for one year in the Chinese community — It is regulated by the U.S. government.”
The official news came when Coinex divulged information about the USDH listing 12 hours later on Twitter. The tweet then led to a blog announcement which explained that the trading platform’s executives had decided to list honestcoin.
“To provide a wider selection of crypto trading options for Coinex users, we have decided, after rigorous listing reviews, to list honestcoin (USDH) on Coinex,” the blog post notes. The Coinex blog continued:
Honestcoin (USDH) is the first regulated Stablecoin project issued on Bitcoin Cash by Honestnode and Prime Trust (A USA Trust company), 1-to-1 for US dollars.
