Huobi Global is a cryptocurrency exchange for non-US residents that allows access to a diverse set of crypto with low fees. It also has its native crypto wallet, which will be renamed iToken starting from May 19. Users don’t need to update to enjoy additional iToken features.
“The name iToken depicts users' ability to freely take charge of their own digital assets and represents iToken's vision for a decentralized future. The new name reflects the fact that although users may use multiple digital wallets, they only need one to store and manage their favorite digital assets, especially those that hold the highest long-term growth potential. iToken symbolizes a single place for the storage of all digital assets that can seamlessly connect across various public chains, all underpinned by the highest security standards,” Huobi’s press release reads.
iToken already received $200m from Huobi Group. Half of the investment will be allocated to the wallet’s risk reserves for its newly launched wealth management functions, with the other half being used for current operations.
iToken simultaneously supports 20 wallet types, including BTC, ETH, HECO, DOGE, XRP, DOT, KSM, BCH, LTC, ETC, TRX, XTZ, EOS, ATOM, BCH, and more. It also supports ERC-721 NFTs and thirteen stablecoins. Besides serving as crypto storage, iToken will provide investment and financial management, market information, and other DeFi features such as TVL rankings, instant cross-chain swaps, and built-in security review reports for dApps.
"Digital asset wallets are aplenty in the market, but iToken goes several steps beyond the mere storage of digital assets to include dApps and cross-chain swaps," said Liser Lee, Head of iToken. "By empowering users to wholly take charge of their investments, we hope to pave the way toward true decentralized financial freedom.
To celebrate the rebranding of the wallet, Huobi will organize a lottery, where users who complete all activities will stand a chance to win a Tesla Model 3. Additionally, ten followers who retweet and comment company’s announcement will share 100 USDT worth of Luna.
