### What is Huobi BTC?

Huobi BTC (HBTC) is a wrapped Bitcoin token issued on the Ethereum blockchain. It is an ERC-20 token that represents Bitcoin in a 1:1 ratio, providing users the advantages of both Bitcoin and Ethereum networks.

### How does Huobi BTC work?

Huobi BTC operates on the Ethereum blockchain through smart contracts. Users send Bitcoin to a custodian who holds it in reserve. Once the transaction is verified, an equivalent amount of HBTC is minted and sent to the user's Ethereum address. This wrapped token can be used across Ethereum-based applications.

### What are the potential use cases for Huobi BTC?

Potential use cases for Huobi BTC include:
- Accessing DeFi applications and smart contracts on the Ethereum network.
- Trading and providing liquidity on decentralised exchanges (DEXs).
- Lending and borrowing in DeFi platforms.
- Using as collateral in DeFi protocols, providing interoperability between Bitcoin and Ethereum ecosystems.

### What is the history of Huobi BTC?

Huobi BTC was launched on February 14, 2020, as part of efforts to expand Bitcoin's liquidity within the Ethereum DeFi ecosystem. The token was introduced by Huobi, initially a leading digital asset exchange founded in 2013. Despite not detailed specifically in the available search results, the launch of HBTC aligns with Huobi's broader history of innovation in bridging traditional financial markets with cryptocurrency spaces.

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Huobi BTC (HBTC)

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