It seems as if the Huobi and Gemini cryptocurrency exchange platforms will continue working together for the foreseeable future. This follows a meeting two of Huobi's top executives and the Winklevoss brothers, the founders of the Gemini trading platform. The two were chief executive officer Leon Li and chief operations officer Robin Zhu. The primary agenda of the meeting was stablecoins and enhancing relations within the US and Chinese cryptocurrency industries.
.@HuobiGroup CEO Leon Li & COO Robin Zhu met Gemini co-founders Tyler & Cameron Winklevoss today, at the Huobi office. This first meeting involved a spirited discussion about stablecoins, and uniting crypto spaces of east & west.@GeminiTrust @winklevoss @tylerwinklevoss pic.twitter.com/FgAoURMfJb
— Huobi Global (@HuobiGlobal) November 7, 2018
According to Leon, the two platforms want to eradicate the inconsistencies that are preventing the US and Chinese crypto space from operating in sync. Precisely, Li mentioned that Huobi is working to introduce American crypto assets to the Chinese market. In exchange, Gemini will assist in marketing the services and products developed by Huobi to other parts of the world.
Additionally, Leo stressed the importance of strengthening their partnership with Gemini. In this regard, the two companies have a good history of collaborations on various fronts. The most recent deal involving the two is the listing of the Gemini Dollar (GUSD) stablecoin on the Huobi trading platform. As expected of a stablecoin, GUSD is backed by fiat currency reserves, in this case, the US dollar. GUSD is also accessible from the Huobi digital wallet.
In addition to Gemini Dollar, the Huobi exchange also added other stablecoins such as True USD, Paxos standard and USD Coin. Furthermore, Huobi also created a stablecoin solution through which users can access all of their stablecoin holdings on a single platform.
The representatives from Huobi indicated their admiration for GUSD and expressed hope that it would increase trading activity on the Huobi exchange. On the other hand, the Winklevoss brothers were more interested in embracing the global expansion plan suggested by Huobi, with a particular focus on the Japanese and Korean markets.