There are a company focused on commercial financing, said a Stablecoin issuance license from the Bermuda monetary authority (BMA)The company said Friday.
The digital asset business (METRO) The license allows them to issue and manage the stable collateralized 1: 1 in multiple currencies, with provisions for performance products.
The company is pointing to B2B markets, regulated entities and non -bank lenders, which according to them remain unattended in trade and global financing.
Stablecoin values are linked to assets such as the US dollar or gold. They play an important role in cryptocurrency markets that provide, among other things, a payment infrastructure, and are also used to transfer money internationally. The sector has a market capitalization of approximately $ 280 billion, show Coingcko data, and is dominated by the USDC of the USDT of Tether and the USDC of Circle Internet.
“This is a key moment in the evolution of Haycen, and we are proud to be part of the future promoted by Blockchain de Bermudas,” said founder and CEO Luke Sully in the statement.
“The regulatory clarity offered by the BMA provides us with the basis for building and climbing innovative solutions of Stablecoin that provide real value to companies around the world.”
There are planning to focus their offers on cross -border commercial finances, a Sully sector described as “to a large extent outside the radar” for banks despite billion dollars in annual liquidity needs.
He said that the company’s objective is to provide institutions with the most control over cash flows and reduce the cost of capital. Haycen stable, including a British token called in pounds, are completely collateralized at all times.
Earlier this year, Haycen began working with Northern Trust, which serves as his Fiat Custody and Money Market Fund partner. He also received the support of the National Security Strategic Investment Fund of the United Kingdom Government (NSSIF).
Read more: Northern Trust to provide custody, cash management services for the stablecoin issuer
