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.”