Crypto exchange Huobi’s native Huobi Token is now usable in real-world online purchases of a wide range of products on e-commerce platform FomoHunt.
Per a press release shared with Cointelegraph on Aug. 22, users of HT can now purchase clothes, art, hardware and other products from the e-commerce and cryptocurrency industry news platform FomoHunt. James Lawrence, co-founder of FomoHunt, commented on the development:
“Being able to work directly with Huobi is an amazing opportunity. We are working together to allow our community users to use Huobi Token and make real-world purchases for clothes, art, FomoHunt subscriptions, event tickets, and even mining hardware.”
Huobi Token is an Ethereum-based decentralized digital asset with a limited supply of 500 million, which rewards users on the exchange with lowered fees in a bid to increase market share and liquidity on the exchange. According to data from CoinMarketCap, HT is currently trading at around $4.88, having gained 2.06% on the day.
E-commerce embraces digital tokens
Earlier in August, news broke that privacy-focused cryptocurrency Zcoin became available for spending in Thailand at any merchant registered with the Thai QR code system through Satang App. The system instantly settles transactions and allows merchants to be paid in Thai Bhat via regulated exchange Satang Pro.
Also this month, South Korean business-to-business fashion platform Sinsang Market joined the Terra Alliance ecosystem, a stablecoin-focused association of large e-commerce companies. Sinsang will reportedly use Terra’s platform to enable its customers to conduct payments for a personal delivery service.