HWGG Capital announced that it has formally introduced its HwgPay Blockchain Ecosystem, which will let Malaysian users to make transactions using digital assets on a safe and secure platform.
According to The Borneo Post, Tan Kok Wai, Special Envoy of Malaysia to the People’s Republic of China, revealed that about a fourth of all blockchain projects in the world are carried out in China and that HWGG is coordinating with local authorities to develop the Federal Territory of Labuan in Malaysia into a blockchain and fintech hub.
“With blockchain technology’s potential to level the playing field between developing and developed nations, Labuan has now taken its first major steps towards digital innovation following the launch of the HwgPay Blockchain Ecosystem,” said Tan.
Meanwhile, the HwgPay Blockchain Ecosystem is set to propel Labuan into a hub of blockchain adoption, innovation, and entrepreneurship.
The HwgPay Blockchain Ecosystem comprises HWGG Capital’s digital asset payment solutions, namely its native token HWG Cash (HWGC) and HwgPay. HWG Cash is a stablecoin pegged against the US dollar, while HwgPay is a digital asset wallet that will enable users to make transactions using cryptocurrencies such as Ethereum (ETH), Bitcoin (BTC), and HWG Cash.
Gavin Lim, CEO of HWGG Capital, expressed his confidence that the services will help promote more adoption of blockchain.
“The launch of HwgPay Blockchain Ecosystem is the culmination of the long journey undertaken by HWGG Capital to introduce regulated digital assets transactions for consumers and businesses,” said Lim. “Blockchain technology has the potential to not only change the way we conduct secure, online payment transactions but also innovate everyday services such as distribution, automation, and verification.”
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