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Ho Wah Genting Group (HWG) is a well-known conglomerate having diverse business interests in blockchain, tourism, internet, travel, retail, and entertainment. On the other hand, everiToken is a Switzerland-registered public chain company specializing in top-notch security, regulatory compliance, and compatibility. The two companies have recently entered into a strategic business partnership, to collaboratively raise USD 500 Mn HWG Cash on everiToken Public Chain. This implies that the special feature of the launch is 500M worth of HWG Cash, a stablecoin.
Background
The HWG will issue stablecoins on the everiToken Public Chain. The two companies will also work together to develop a new digital currency payment ecosystem 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 energy into solving its own business problems. 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.
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 trading volume, top-notch security, fast transaction confirmation, scalability, and regulatory compliance.
Introducing the “everiPay”
everiPay is going to be the world’s only commercial solutions for micropayment on chain.
Truly, everiToken has certain attributes that make it a good fit for the proposed HWG cryptocurrency. everiToken’s latest blockchain project is called everiPay, which has the following functions:
- Support for QR Code payments, compatible with all scanners.
- No transaction fee for end users.
- Instant notification on successful transactions.
- Offline Usage: Can pay even while on a flight.
- Standard: Native support for all tokens issued on everiToken.
- Decentralization: No third-party control.
With the combination of everiToken public chain technology, everiPay enables transaction confirmation in a split second.
The ICO date will be announced soon. To know more about this collaboration and unique everiPay project, please visit ：
Website: https://www.everitoken.io/
Telegram: https://t.me/everitoken
everiPay on YouTube: https://www.youtube.com/playlist?list=PLD3Pg2lxTrw1ja0tSZYiRine69L2ozH-V
Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is neither responsible nor liable for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.
