Emirates Integrated Telecommunications Company (EITC) is collaborating to leverage the potential of Hedera Blockchain. In this regard, the telecom giant announced that it has established a partnership with Hashgraph Association. Additionally, Hedera announced that it has launched the Stablecoin Studio open source solution for Web3, institutions, and stablecoin issuers. Following these important developments, the altcoin price jumped.
This altcoin project has partnered with the telecom giant!
Hashgraph Association is a non-profit organization building a decentralized economy that enables start-ups, businesses and governments to create a trusted, secure and empowered digital future. The organization signed an agreement with the Emirates Integrated Telecommunications Company (EITC) of the United Arab Emirates. By the way, it should be noted that the company has more than 9 million users and more than 100 thousand businesses. This collaboration will help Hedera Blockchain integrate and leverage its potential.
The partnership is a big step for Hedera Blockchain. Because, as various organizations adopt the network, the altcoin project will gain mass adoption. It will also use its technology to revolutionize a wide range of industries: healthcare, education, smart cities and agriculture.
Hedera launches Stablecoin Studio
cryptokoin.com As we reported, Hedera announced Stablecoin Studio, an open-source software development kit (SDK), during the Token 2049 event in Singapore on September 13. This move by the altcoin project allows Web3 stablecoin platforms, institutional issuers, businesses and payment providers to build stablecoin applications using Hedera network services without technical expertise in blockchain technology.
HBAR Foundation Co-Founder and CEO Shayne Higdon said the following regarding the development:
For stablecoins to be widely adopted in mainstream payments and usage, stablecoin issuance and management must be customizable for any use case. Stablecoin Studio provides this programmability, accelerating the era of modular and interoperable stablecoins for companies, financial institutions, and individuals.
PayPal, JPMorgan, and others can leverage Stablecoin Studio to build and manage applications. Additionally, Hedera-specific KYC/AML account flags and configurations ensure regulatory compliance and security. In addition, according to experts, Hedera’s predictable fees, high programmability and robust network of ecosystem partners make stablecoin issuance and management simpler.
Altcoin price started to rise after the developments
HBAR price increased by approximately 5% after the developments. The altcoin is trading at $0.04952 at press time. The 24-hour low and high price are $0.0466 and $0.04952 respectively. In addition, transaction volume increased by approximately 22% in the last 24 hours. This shows that whales or traders are seizing the opportunity.
HBAR daily price chart. Source: CoinMarketCap
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