Hashgraph, a firm specializing in blockchain development for the Hedera (HBAR) network, is set to launch a private, permissioned blockchain aimed at enterprises in highly regulated sectors by the third quarter of 2025.
Dubbed HashSphere and utilizing Hedera’s technology, the platform intends to connect private and public distributed ledgers, enabling compliance with regulatory requirements while ensuring interoperability. The firm announced that it aims to serve asset managers, banks, and payment providers that need secure, cost-effective cross-border transactions with stablecoins.
Public blockchains excel in security and transparency; however, enterprises in sectors such as finance and payments often encounter compliance issues, especially concerning know your customer (KYC) and anti-money laundering (AML) regulations. HashSphere tackles this challenge by granting access exclusively to verified participants, which allows companies to create tokenized assets, AI-driven services, and other blockchain-based products while adhering to regulatory guidelines.
“Our vision for Hedera from the outset has been to establish ‘shared worlds’ — interconnected networks where businesses can harness the benefits of DLT [distributed ledger technology] without sacrificing privacy or control,” stated Andrew Stakiwicz, head of solutions at Hashgraph.
This network also incorporates existing Hedera tools, such as the Token Service for managing digital assets and the Consensus Service for recording transactions with trusted timestamps. Additionally, it supports Ethereum Virtual Machine (EVM) compatibility, enabling developers to build decentralized applications using Solidity and other programming languages associated with EVM.
The firm is currently collaborating with initial partners, including Australian Payments Plus, which operates Australia’s national payments scheme, while continuing to onboard new users.
“We are particularly drawn to HashSphere due to its improved privacy and regulatory compliance, while also recognizing the need for network interoperability to enable seamless and transparent exchanges of stablecoins between the public Hedera and the private HashSphere, as well as other layer-1 protocols,” remarked Rob Allen, head of future payments (Web3) strategy at Australian Payments Plus.
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