Huobi’s US Exchange Sees 30% Boost in Trading for Tether Alternative

A U.S. cryptocurrency exchange is reporting a significant increase in trades between tether (USDT), the controversial stablecoin that lost its dollar peg this week, and a newer alternative called TrueUSD.

At HBUS, the U.S. affiliate of the Singapore-based Huobi exchange, both deposits and withdrawals of USDT “have increased by over 10x over the last two days,” a company spokesperson told CoinDesk.

And the investors making deposits appear to be set on swapping it for TrueUSD (TUSD), which TrustToken launched earlier this year. While HBUS is a small exchange, ranking only 129th by adjusted total volume according to CoinMarketCap, it appears to be one of the very few in the world where investors can trade TUSD for bitcoin (Bittrex being another rare example).

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