Haycen, a company focused on financing exchanges, obtained a stablecoin emission license from the monetary authority of the Bermuda (BMA)said the company on Friday.
Digital asset activity (M) The license allows Haycen to emit and manage guaranteed staboins 1: 1 in several currencies, with arrangements for yield products.
The company aims at B2B markets, regulated entities and non -banking lenders, which, according to it, remain poorly served in world trade and financing.
Stablecoin values are linked to assets such as US dollar or gold. They play a major role in the cryptocurrency markets which provide, among other things, a payment infrastructure, and are also used to transfer money internationally. The sector has a market capitalization of around $ 280 billion, show Coigecko data and is dominated by the USDC de Tether and Circle Internet.
“It is a key moment in Haycen’s evolution, and we are proud to be part of the future focused on the Bermuda blockchain,” said founder and CEO Luke Sully in the press release.
“The regulatory clarity offered by the BMA provides us with the basics of construction and the scale of innovative stablecoin solutions which bring real value to companies around the world.”
Haycen plans to concentrate its offers on cross -border commercial financing, a soul sector has described as “largely outside the radar” for banks despite billions of dollars in annual liquidity needs.
He said that the company’s objective was to provide institutions and companies with more control over cash flows and reduce the cost of capital. The Stablecoins of Haycen, including a British token called by the book, are fully guaranteed at any time.
Earlier this year, Haycen started working with Northern Trust, which serves as a Gustotian Fiat partner and money market funds. He also received support from the British government’s strategic national security investment fund (Nssif).
Find out more: Northern Trust to provide cash management services for Stablecoin Haycen issuer
