Huobi Global, one of the world’s leading cryptocurrency exchanges, will be partnering with PayPal-style payments project Reserve for the third official launch of Huobi Prime, our pioneering launch platform for emerging premium coins. Huobi Prime will list Reserve Protocol’s Reserve Rights Token (RSR) towards the end of May.
“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,” said Livio Weng, CEO of Huobi Global.
The Reserve Rights token (RSR) is designed to maintain the stability of Reserve’s USD-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.
“Over 300 million people live in countries without stable currencies, resulting in dramatic losses of wealth and overall instability in these countries,” said Nevin Freeman, Co-Founder and CEO of Reserve. “The world needs a stable, global, digital currency that gives people and businesses autonomy”
Advisors for the project include a former member of the Joint Economic Committee of the U.S. Congress, as well as former members of Clarium Capital, and Kapital Trading. The project also has the backing of dozens of investors from Silicon Valley and the blockchain industry.
About Huobi Prime:
Launched in March, Huobi Prime offer the following key features:
- All coins purchased through Huobi Prime are immediately deposited into user’s accounts and are tradable on Huobi Global against Huobi Token (HT), our native token. No need to wait for presales or similar delays.
- Rigorous screening and selection processes to ensure only premium projects that have yet to be listed on any major exchange are included.
- Early access to coins at below market prices.
- Access for both big and small players. Huobi Prime is open to average users, not just professionals or VIPs.
- In order to mitigate periods of extreme volatility when the market opens, and to reduce the risk of adverse impacts on users, we have also added a period of tiered price limits.
In its first two launches, Huobi Prime sold out of 2 billion NEW, the native token of Project Newton, and 1.5 billion TOP, the native token of Top Network. In both cases, the price of the coins rose 500% or more in the hours following Prime trading.
Disclaimer: Huobi Prime will not, under any circumstances, make price forecasts or representations as to the asset’s investment characteristics. Huobi Prime will not provide any trading or financial advice and Huobi Prime users should conduct independent analysis including, where appropriate, taking third party legal, tax and financial advice. Huobi Prime is limited to users from jurisdictions where digital asset trading is a permissible activity and no regulatory restrictions apply.