HomeNewsHedera Hashgraph Broadens Reach: MetaMask Integration and Successful Stablecoin Pilot

Hedera Hashgraph Broadens Reach: MetaMask Integration and Successful Stablecoin Pilot

- Advertisement -
  • Hedera Hashgraph integrates MetaMask support, enhancing its global inclusivity and enabling seamless interaction with Hedera DApps for MetaMask users.
  • In partnership with Shinhan Bank, SCB TechX, and other financial institutions, Hedera Hashgraph has successfully completed a proof-of-concept pilot for stablecoin remittances.

Hedera Hashgraph, a leading decentralized public network, is fostering increased adoption and inclusivity by integrating support for MetaMask, a renowned Ethereum wallet, through HIP-583. Moreover, Hedera Hashgraph, collaborating with Shinhan Bank, SCB TechX, and other financial entities, has successfully finalized a proof-of-concept (PoC) pilot for stablecoin remittances.

Hedera Hashgraph Embraces MetaMask

This integration presents thrilling prospects for MetaMask users, offering them seamless access and interaction with Hedera’s decentralized applications (DApps). In the run-up to this integration, Hedera has planned for comprehensive support for JSON-RPC-enabled wallets and applications.

- Advertisement -

Included in the updates are features such as transferring HBAR to and from 0x accounts, enhanced usability via updated “token associations,” better connectivity with MetaMask, and compatibility with Ethereum Virtual Machine (EVM) tooling.

MetaMask, well-known as an Ethereum wallet and a gateway to the decentralized finance (DeFi) world, will now enable users to effortlessly engage with Hedera’s DApps. An elaborate guide to DApp development has been shared on their official blog.

Pioneering Stablecoin Remittance Pilot

Hedera Hashgraph has played an active role in propelling cross-border remittances with the implementation of distributed ledger technology (DLT). In a collaborative effort with Shinhan Bank, SCB TechX, and other financial institutions, Hedera has completed a successful PoC pilot for stablecoin remittances.

- Advertisement -

This groundbreaking initiative, jointly executed by Shinhan Bank, SCB TechX, and Taiwan’s largest financial institution, leveraged Hedera’s highly efficient and eco-friendly public network. Throughout the pilot, the platform achieved real-time settlement and integrated real-time foreign exchange rates for three currencies: Thai Baht (THB), New Taiwan Dollar (NTD), and South Korean Won (KRW).

The PoC is fully compatible with the Ethereum Virtual Machine (EVM), allowing any stablecoin issuer leveraging EVM to utilize this framework moving forward.

Hedera’s native cryptocurrency, HBAR, is currently trading at $0.05276 at the time of writing. The trading volume has seen a significant surge of 141.54% over the past 24 hours.

- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Jane Smith
Jane Smith
As a Bitcoin Journalist, I am dedicated to reporting the latest developments in cryptocurrency, with a particular focus on Bitcoin. Through extensive research and interviews with industry experts, I provide accurate and up-to-date information on the ever-evolving world of cryptocurrencies. My goal is to help readers stay informed and make informed decisions regarding their investments in this rapidly changing field.
- Advertisment -spot_img