HwgPay Blockchain Ecosystem Officially Launches in Malaysia

Asia Blockchain Review
September 8, 2019
HwgPay Blockchain Ecosystem Officially Launches in Malaysia

Asia’s first-ever regulated cash token, HWG Cash (HWGC), has been introduced by HWGG Capital in Malaysia as part of its HwgPay Blockchain Ecosystem.

According to Digital News Asia, HwgPay, the wallet app for HWGC, was officially launched at an event featuring Tan Kok Wai, Special Envoy of Malaysia to the People’s Republic of China, and Danial Mah Abdullah, Director-General of the Labuan Financial Services Authority.

Asia’s First Regulated Stablecoin

The HwgPay Blockchain Ecosystem was created to facilitate secure and reliable digital asset spending by users. It comprises HWGG Capital’s HWG Cash, a regulated cash token pegged to the US dollar, and HwgPay, a digital asset wallet that handles HWG Cash as well as Bitcoin (BTC) and Ethereum (ETH). HwgPay allows users to store, send, receive, and make payments with HWGC, BTC, and ETH.

The two halves of the HwgPay Blockchain Ecosystem were introduced earlier this year, with the network now bringing them together as per HWGG Capital’s vision. 

“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 CEO Gavin Lim.

Digital Payments Solution Making Cashless Society a Reality

Designed to provide consumers and businesses alike with the confidence to use digital cash, the HwgPay Blockchain Ecosystem has been hailed by the Malaysian government as a key step towards realizing its objective of making the country a cashless society. 

The ecosystem is licensed and supported by the Labuan Financial Services Authority and is to help make the Federal Territory of Labuan into a major hub of blockchain and financial technologies.

Labuan and HWGG Capital’s goal for the near future is to see the territory become a leader in blockchain innovation and adoption, making it a destination for the nascent industry. 

Source: www.digitalnewsasia.com

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Defending Truth with Blockchain – Eliminating Fake News
    The business of journalism is under attack and Blockchain can help regain trust between the publishe...

    August 10, 2020

    Mainstreaming Of Cryptocurrency Investments? An Exploration
    While the security and the regulation is well chronicled. The big question that needs to be answered...

    August 10, 2020

    The 5G Pandora Box: An Ultimate Kingmaker
    Unlike WWII which had sheer military might as its focal point, digital technologies such as 5G would...

    August 9, 2020

    Cyber Attacks In India Surge In Post Border Face Off
    The clashes between Indian and Chinese troops at Galwan valley that took the lives of soldiers from ...

    August 8, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us