Huobi BTC (HBTC) was launched by Huobi Global in February 2020 with the goal of bringing BTC liquidity to Ethereum-based decentralized apps (dApps). HBTC is an ERC-20 token deployed on the Ethereum blockchain and pegged to BTC on a 1:1 ratio. As a result, Huobi BTC has a value equivalent to BTC, with the utility gained through the Ethereum DeFi ecosystem.

Huobi Global is a cryptocurrency exchange that was founded in China in 2013 and is now based in Seychelles. It offers a wide range of cryptocurrencies and trading pairs to its users. Huobi Token (HT) is the native cryptocurrency of the Huobi exchange. In addition to being a crypto exchange, Huobi has launched a $100 million venture fund.


## Who Are the Founders of Huobi BTC?

Huobi Global was founded in 2013 by Leon Li, who currently serves as the CEO.

Li graduated from Tsinghua University in 2013. Prior to Huobi Global, Li worked as a computer engineer at Oracle Corporation, one of the largest US-based software companies. Huobi Global is based in the Republic of Seychelles, while Huobi Asia is headquartered in Singapore, with plans to move to Hong Kong.


## What Makes Huobi BTC (HBTC) Unique?

HBTC serves as a bridge between Bitcoin and the Ethereum ecosystem, providing access to decentralized finance (DeFi) protocols like Uniswap, Curve or Balancer.

HBTC has a higher transaction speed and lower handling fees. Service fees are negligible thanks to two-way exchange support. Furthermore, all transaction details are publicly available, and in reserve pools, users can check the number of issued tokens.

HBTC utilizes a multi-channel system, so users can choose a profitable channel to mint and burn Huobi BTC. HBTC tokens are fully redeemable due to 100% reserve.