Hayceen, a company that focuses on commercial financing, got a Stablecoin version license from Bermuda Monetary Authority (BMA)The company said on Friday.
Digital asset works (M) HayCen license allows the content and management of guaranteed Stablecoins 1: 1 in multiple currencies, with provisions for the products that carry the return.
The company targets the B2B markets, organized entities and non -banking lenders, which it says is still deprived of global trade and finance.
Stablecoin values have been linked To origins like the US dollar or gold. It plays a major role in cryptocurrency markets that, among other things, provides an infrastructure for payment, and is also used to transfer money at the international level. The sector has a maximum market of about $ 280 billion, COININGKO data, and is dominated by USDT from Tether and Circle Internet Usdc.
“This is a major moment in the development of Hesseen, and we are proud to be part of the future of Bermuda, which is driven by Blockchain,” said the founder and CEO Luke Soleil.
“The organizational clarity offered by BMA provides us with the basis for building and expanding innovative Stablecoin solutions that bring real value to companies around the world.”
Hayceen plans to focus its offers on trade financing across the border, which is a sector described as “radarly outside” for banks despite the trillion dollars in annual liquidity needs.
He said that the company’s goal is to provide institutions and companies with more control over cash flows and reduce the cost of capital. HayCen Stablecoins, including a British symbol raised in pound, is fully guaranteed at all times.
Earlier this year, HayCen started working with Northern Trust, who holds the position of Fiat Custodian and Money Market. It also received support from the National Security Strategic Investment Fund (NSSIF).
Read more: Northern Trust to provide custody, cash management services for Stablecoin HayCen source
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