​Huobi has temporarily canceled withdrawal fees for cryptocurrencies on the TRON blockchain

What’s new? Crypto exchange Huobi has canceled withdrawal fees on several altcoins on the TRON blockchain. This affected Tether (USDT), USDD, USD Coin (USDC) stablecoins, as well as TRX, HT, BTT, JST, SUN tokens, and non-fungible tokens (NFTs). The statement was shared by TRON founder and Huobi global advisory board member Justin Sun on Twitter, he called on all exchanges to jointly waive USDT withdrawal fees on the TRON network.

Huobi @HuobiGlobal has waived all withdrawal fees on the #TRON chain, including #USDT #USDD #USDC and #TRX #BTT #JST #SUN #NFT #HT. Huobi calls on all exchanges to jointly waive the #USDT on TRON withdrawal fee by staking #TRX! https://t.co/fXClLq0WVG — H.E. Justin Sun🌞🇬🇩🇩🇲🔥 (@justinsuntron) December 23, 2022

What else is known about the initiative? According to the Huobi blog, the usual withdrawal fee for TRC-20 tokens will resume on January 23, 2023, at 15:59 UTC. In addition, the exchange reserves the right to change the date of the return of fees.

What is known about Huobi? The centralized exchange (CEX) was founded in 2013 in Beijing. Currently based in Seychelles, it also has offices in Hong Kong, South Korea, Japan, and the United States. The platform hosts 650 cryptocurrencies and 904 trading pairs. As of December 23, the daily trading volume is $347,5 million. The native token HT is used to receive fee discounts, as well as additional rewards and bonuses. The asset is trading at $5,40, having gained 1,2% in 24 hours. It has a market capitalization of $875 million.

In November, Justin Sun publicly acknowledged buying Huobi for the first time, noting that he had spent more than $1 billion on it. Earlier he denied that he was the ultimate beneficiary of the purchase of a controlling stake in the exchange.

Earlier, Huobi’s advisory board entered into a strategic partnership with the Poloniex exchange. The platforms will work together on the development of the ecosystem of HT, project connectivity, liquidity sharing, and global regulatory compliance.

On December 22, Huobiannounced a partnership with the Visa payment system to launch the card in Europe and further around the world. Huobi Visa Card will be linked to users’ exchange accounts, allowing them to convert cryptocurrency into fiat and pay for goods and services at 80 million merchants.