Hassan Maishera
HBAR Foundation, the development team behind the Hedera blockchain, announced via a blog post on Tuesday that WiPay, the Caribbean's leading payments company, announced the launch of the WiCoin Settlement Network, the Caribbean's first multi-territory settlement network, on the Hedera mainnet.
The WiCoin Settlement Network, developed by WiPay, connects islands directly through a single wallet with native currency management. The Hbar Foundation added that the wallet facilitates the WiPay stablecoin, WiCoin, which is built on the Hedera Token Service (HTS) and interactive with the Hedera Smart Contract Service (HSCS). This reduces the time and cost associated with cross-border transactions by eliminating the need for intermediaries and correspondent banks.
Hedera Hashgraph is distributed public ledger infrastructure. According to the team, it offers significant improvements over existing blockchains in five areas: performance, security, governance, stability, and regulatory compliance. HBAR is trading at $0.0705 at press time, down by 1% over the last 24 hours.
