Hashbon, a Czech Republic-registered cryptocurrency-focused platform facilitating the exchange of digital assets by individuals and helping integrate crypto solutions in businesses, plans to acquire a 30.2 percent market share in the multi-billion payments industry by offering differentiated solutions.
Institutional Entry into Crypto
As of mid-February 2021, cryptocurrencies are some of the top-performing sectors in the world. At over $55k, the Bitcoin market cap rose above $1 trillion as predicted by Fidelity Investment.
The tide has in recent times changed, boosting retailers and improving awareness of crypto together with its underpinning technology, blockchain.
After years of hesitation, institutions are flowing, assigning a portion of their cash reserves to leading digital assets like Bitcoin and Ethereum.
Because of their involvement and channeling of millions, early adopters, mostly comprising retailers, are the biggest beneficiaries.
Hashbon Serving the Needs of Businesses and Individuals
Hashbon is a compliant crypto payment aggregator supporting fiat deposits and withdrawals. They allow individuals to securely hold and trade a wide range of cryptocurrencies, including Bitcoin.
Founded in 2016, the platform offers a fully-fledged range of crypto payment services addressing both individuals' and businesses' needs.
Beyond trading, Hashbon facilitates the integration of cryptocurrency services into business operations. Accordingly, they offer a crypto payment gateway and secure wallets for accepting, approving and transferring digital assets.
However, their business is different from competitors in terms of commission rates, localization, number of currencies supported, the availability of demo versions for enterprises and more.
These features are essential and provide solutions, especially for small and medium-sized businesses that offer a higher level of customization and more attention to clients.
Zero Commissions for Businesses
For instance, Hashbon doesn't charge commissions for businesses. As such, customers can transact using any of the over 30 supported currencies.
Besides Bitcoin, Hashbon supports Litecoin, Ethereum, DASH and more. These are some of the most liquid and widely accepted digital assets with a developed community and a vibrant ecosystem.
By integrating crypto solutions, Hashbon aims to help businesses cheaply operate across borders while concurrently opening up new markets.
In their estimation, businesses that accept cryptocurrencies as a means of payment can tap from the over 150 million token holders worldwide.
Easy Integration and KYC Compliance
From Hashbon's business wallets, users can trade cryptocurrencies through their bank accounts. To gradually but surely achieve their objectives, businesses integrating their payment gateway don't pay commissions.
Meanwhile, individual traders only have to pay comparatively lower rates. Notably, their integration is faster, only requiring one line of code, unlike Stripe, which needs seven.
Hashbon introduces mass payouts with support for electronic billing suitable for users without a website to accept payments.
It means users can issue invoices before getting paid in cash via traditional payment channels like PayPal, SEPA, Visa/Mastercard or in cryptocurrency.
Compliant with European Anti-Money Laundering (AML) rules, all users must submit their identification documents. It aids in weeding out frauds and agents malicious of gaming the system. Hashbon has also collaborated with Sumsub and Matbea.net to track wallets and ensure that they deal with legitimate users who aren't blacklisted in other crypto platforms.
Hashbon issued its native currency, HASH, in early Feb 2021. There are one billion HASH tokens in total supply. The team is allocated 20 percent, while 80 percent is for the public.
The token complies with both Ethereum's ERC-20 and Binance Smart Chain's BEP-20 standards. HASH will be listed on Coinsbit on Feb 26, 2021.
In Mar 2021, they will launch a trading competition.
Notably, ten days after the launching of the token, over 10k users joined the Hashbon community. Using the token, users can get cashback on top of other incentives like a discount on fees.