Hashgraph Association Teams Up with Taurus for Global HBAR Custody Expansion

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The Hashgraph Association is making significant strides towards realizing its comprehensive goals, notably in relation to Hedera’s HBAR cryptocurrency. This progress comes on the heels of a recent strategic alliance between the nonprofit group and digital asset infrastructure provider, Taurus. Although the organization has been constructing various ecosystems based on Hedera Hashgraph’s decentralized ledger technology (DLT), this new collaboration is expected to expand its capabilities further.


HBAR
$0.36



24h volatility:
6.0%


Market cap:
$13.90 B


Vol. 24h:
$1.39 B

The main goal for our collaboration is to facilitate secure storage, earning interest through staking, and tokenization of the Hedera cryptocurrency (HBAR). Beyond this, we aim to extend these capabilities to other assets as well, making it simple for financial institutions and businesses worldwide to tap into our ecosystem.

Hedera Eyes Global Expansion as It Seeks to Push HBAR across Borders

It’s worth noting that the collaboration between the Hashgraph Association and Taurus occurs during a thriving era for digital assets, particularly in regions like Europe, Asia, the Middle East, and Africa. This could imply that Hedera is aiming to capitalize on this dynamic market to drive its aspirations for global growth.

According to a post by Cointelegraph, Kamal Youssefi, president of the Hashgraph Association, agreed with this perspective. Interestingly, he suggested that the existence of clear regulatory guidelines in certain regions might have motivated Hedera’s expansion into those markets. In other words, part of his statement implies that the presence of regulatory clarity could be a driving factor behind Hedera’s market entry.

In terms of regulations for digital assets, Europe is spearheading the way forward. The Markets in Crypto-Assets (MiCA) framework offers comprehensive rules within its jurisdiction, thereby reducing any potential ambiguity often associated with markets such as the U.S.

Based on Youssefi’s perspective, delving deeper into these areas encourages investors to interact with the Hedera ecosystem more readily. This is due to the fact that some of these locations already have their regulatory systems in place, or they are very near to establishing them.

Issues Remain

Simultaneously, while this new partnership offers promising possibilities, the process of tokenizing real-world assets (RWAs) remains a significant hurdle. Yet, Youssefi and the Hedera team are well aware of these challenges, especially those related to ownership and legal protection concerns associated with tokenized RWAs.

The technical issues at hand don’t merely endanger Hedera alone; they pose a potential risk to any distributed ledger technology (DLT) or blockchain. According to Youssefi, the team is committed to mitigating risks for investors and creating user-friendly frameworks that will facilitate smooth tokenization.

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2025-01-20 17:36