The creators of the Hedera network have revealed the upcoming launch of HashSphere, a private, permissioned blockchain designed specifically for enterprises operating in regulated sectors.
Set to debut in the third quarter of 2025, HashSphere aims to enable cost-effective and compliant cross-border stablecoin transactions for banks and asset managers.
Utilizing Hedera’s (HBAR) infrastructure, HashSphere will support EVM compatibility, empowering organizations to create and implement smart contracts while ensuring compliance with regulatory standards like KYC and AML requirements.
The platform is currently undergoing beta testing and collaborating with industry partners, including Australian Payments Plus.
Addressing compliance and privacy issues
Numerous enterprises have been reluctant to embrace blockchain technology due to concerns about compliance, privacy, and security threats associated with public networks. Although public blockchains such as Ethereum (ETH) provide transparency and decentralization, they often fall short of the regulatory protections necessary for financial institutions.
HashSphere is designed to create a secure environment where only verified participants can carry out transactions, thus ensuring data security, protection, and regulatory compliance.
Andrew Stakiwicz, head of solutions at Hashgraph, emphasized that HashSphere aims to address significant obstacles to enterprise blockchain adoption, including vendor lock-in, scalability challenges, and vulnerabilities linked to public networks.
In contrast to public chains that depend on anonymous validators, HashSphere limits access to authenticated entities, enhancing security and control.
Another notable feature of HashSphere is its ability to interoperate with Hedera’s public ledger, enabling businesses to take advantage of both private and public blockchain technologies.
This adaptability could allow financial institutions to maintain compliance while benefiting from the efficiency and cost-effectiveness associated with decentralized technologies.