The company will send a digital token to users via Huobi Prime, its exclusive token offering platform.
Huobi Global’s HT token jumped after the cryptocurrency exchange said it would airdrop a new digital token to be issued by the Caribbean island nation of Dominica.
Huobi said the new “Dominica coin,” or DMC, will be issued “in due time” on Huobi Prime, the exchange’s exclusive token offering platform. Users can complete their identity verification on Huobi with Dominica digital identification documents, according to a statement.
The HT token was up 15% over the last 24 hours to $7.12 at the time of publication. It’s up 40% over the past seven days.
The deal is noteworthy partly because of its connections to crypto billionaire Justin Sun. The Dominica tokens are set to be launched on Sun’s Tron blockchain, and Sun recently acknowledged holding “tens of millions” of HT.
Last month, Huobi named Sun as the first member of a new global advisory board that is responsible for guiding the exchange’s strategic layout and development.