Blockchain development company Hashcash Consultants said today that it will offer its White Label Cryptocurrency Exchange Software to an unnamed Singapore-based enterprise. The software will enable the firm to establish a secure platform to profit from the popularity of cryptocurrencies.
HashCash Will Offer Its Crypto Exchange Software to Singapore-Based Firm
According to a Sept. 1 release, Hashcash will provide its proprietary crypto exchange software to an undisclosed Singapore-based company. Touted as an all-in-one solution, the White Label Crypto Exchange software offers digital asset trading features, with support for multiple currencies.
The exponential growth in crypto trading has been accompanied by a meteoric rise in cyberattacks. Just last month, the industry witnessed one of its biggest heists when DeFi platform Poly Network lost $600 million in investor funds. The company was able to extract most of the stolen funds, albeit only after a public appeal on social media.
Hashcash, which runs US-crypto exchange PayBito, and digital asset payments processor Billbitcoins, claims that its solutions are deployed in 5 continents. The company stated in the release that it has completed similar technology sharing projects in Australia, Europe, and the UAE.
Commenting on the parabolic rise of the crypto sphere, Raj Chowdhary, the CEO of Hashcash, noted that cryptocurrencies will likely overtake banking services in the future. “In the near future, cryptocurrencies will disrupt the entire banking infrastructure which we know today. A decentralized blockchain network removes unnecessary delays due to bureaucracies- speeding up the entire banking process, and at lower expenses,” he said.
Hashcash’s Growing Reach in Blockchain Industry
Hashcash’s latest partnership comes close on the heels of a series of developments that have expanded the company’s presence in the blockchain industry. Late last month, the company announced the launch of a utility coin offering (UCO) project with a Singapore-based startup.
Reports suggest that the project would involve the development of a blockchain network and a digital asset, which would be listed on Hashcash’s exchange PayBito.
Before that, Hashcash revealed that its payments software Billbitcoins would be leveraged by an Ethiopian fintech to target the unbanked community in the country.