Huobi brings more security and transparency to its wrapped BTC token on the Ethereum mainnet. The venture has announced that it will deploy Chainlink Proof of Reserve to enhance transparency around the HBTC H-Token.
Through this update, Huobi will enable the verification of BTC in reserve wallets with the total number of HBTC. The goal is to lower the risk of wrapped assets by making sure that off-chain or cross-chain services are monitored in a timely and reliable way.
(By Roxanne Williams)