Ho Wah Genting Group (HWG) is a conglomerate that has diverse business interests in blockchain, tourism, Internet. travel, retail, and entertainment. In contrast, everiToken is a Switzerland-registered public chain company that delivers top-notch security, regulatory compliance, and compatibility. The two companies recently announced that they have gone into a strategic business partnership. The deal will see the two companies collaborate to launch on everiToken Public Chain. Essentially, this launch involves 500M worth of HWG Cash, a stablecoin. What does this mean?
Details of the Partnership Agreement
Indeed, this means that HWG will issue stablecoins on the everiToken Public Chain. It doesn’t end there. The two companies will also work together to develop a new ecosystem of digital currency payment with worldwide reach. As a group, Ho Wah Genting Group’s business interests cut across a wide range of sectors. For instance, aside from the industries already listed above, HWG has a cryptocurrency exchange, making it the first firm to have a licensed exchange in Malaysia. Also, the company channels a considerable amount of its energy into solving its own business problems. The thing is, HWG tackles challenges stemming from liquidity, volatility, and trust. In a bid to effectively arrest its business setbacks, HWG has resolved to offer a stablecoin using the everiToken platform. For those not in-the-know, a stablecoin is a cryptocurrency with real-world asset (such as the US dollar or gold) backing.
About the Stablecoin
HWG Cash is a stablecoin with an ERC-20 protocol compliance. It also allows for easy crypto-to-fiat and crypto-to-crypto conversions. With the implementation of these valuable attributes, the token allows for the mass introduction of blockchain assets to the mass market. In order to meet the needs of its developers, the public blockchain that will underlie the stablecoin needs to have certain functionalities. These functionalities include an ability to support a huge amount of trading volume, top-notch security, fast transaction confirmation, scalability, and regulatory compliance.
The Role of everiToken Public Chain
Truly, everiToken has certain attributes that make it a good fit for the proposed HWG cryptocurrency. The latest everiToken’s blockchain project is called everiPay, which has the following functions:
- Compatible: everiPay underlies EvtLink protocol which is compatible with its payment mode and existing device.
- Available: Also, it implements mature technology with smart contracts.
- Convenience: In addition, the platform is convenient, delivering fast on-chain payment solutions. everiPay underlying projects don’t need to write smart contracts, making everiPay convenient.
- Quick confirmation: With the combination of everiToken public chain technology, everiPay enables transaction confirmation in a split second.
RISK DISCLOSURE
This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
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