Hashgraph (formerly Swirlds Labs), the founder of the Hedera Hashgraph distributed ledger, is expecting to launch a permissioned DLT, HashSphere, in Q3. One of the current beta testers is Australia Payments Plus, which operates key Australian payment infrastructures and is a long standing governing council member of Hedera.
The DLT company sees a gap with the current permissionless and permissioned offerings. On the one hand, the challenge with permissionless chains for institutions is the need to repeat KYC and compliance steps that their clients have already done internally. Additionally, institutions want greater privacy and control. At the same time, many are looking for a path to interoperability with the permissionless world and stablecoins, an area where HashSphere is positioned as a good example.
There was much excitement when Australia’s eftpos joined Hedera years ago, with the hope of bringing regulated payments to DLT. Eftpos merged with other Australian payment infrastructures which are part of Australia Payment Plus. With stablecoins now on the cusp of going mainstream, perhaps that time has come. Hedera developed various solutions to make onboarding with stablecoins simple. Filipino banks plan to launch the PHPX stablecoin on Hedera this year.
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