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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 a backing of dozens of investors from Silicon Valley and the blockchain industry.

 

SOURCE Huobi Global