Hylobiz's B2B lending platform tech built upon Hedera's
decentralized network focused on enabling streamlined digital
access to low-cost financing for SMBs globally.
HYDERABAD, India, May 9, 2024 /PRNewswire/ -- The Hashgraph
Association (THA), the Swiss-based organization at the
forefront of global digital enablement, has partnered with
Hylobiz, a Vayana group company, for the launch of
decentralized debt-based financial products built on the Hedera DLT
network. Leveraging Hedera's decentralized, open-source public
ledger, Hylobiz's software as a service (SaaS) B2B lending platform
enables easier access to affordable financing for small and
medium-sized businesses (SMBs) globally.
With 65 million firms, or 40% of formal micro, small, and medium
enterprises in developing countries, facing unmet financing needs
of $5.2 trillion every year, Hylobiz
is addressing this financing gap through a blockchain-powered
solution. The collaboration with THA will expand the on-chain
availability and adoption of debt-based financial products in
traditional and capital markets, thereby giving the real-world
asset (RWA) segment access to a larger pool of liquidity.
Using the Hedera decentralized public network, Hylobiz is
providing an infrastructure for SMBs to help reduce the overall
cost of servicing loans, facilitate easier movement of capital from
a surplus location in the world to a deficit one, and use features
of programmable money to bring efficiencies. The offering includes
access to Vayana Debt Platform (VDP), a securities & loan
tokenization module available off-the-shelf for lending businesses
to handle digital currency-based transactions and deploy on Hedera
immediately.
Kamal Youssefi, President of
The Hashgraph Association, stated, "We share the same vision
of Hylobiz and Vayana in creating an ecosystem where digital
finance is embedded in a transaction invisibly, securely, and
transparently. We are proud to be partnering with the Vayana group
and believe that the Hedera DLT network is essential for the growth
of SMBs in emerging markets, evening out the playing field and
allowing them to compete on equal footing with the big global
industry players."
Manish Gadia, Head Emerging
Tech Platforms (ETP) at Vayana Group, commented,
"Hylobiz's partnership with THA fits within Vayana's mandate to
serve the B2B debt segment digitally with a special focus on SMBs,
ensuring the lowest affordable landing cost. Vayana Group has
proven expertise in Web2 and through partnerships such as this we
are extending our capabilities of creating world-class financing
infrastructure in Web3 as well. Usage of blockchain and smart
contracts will help usher in a new age of finance and by
democratizing access to this new realm, the Vayana ecosystem is
ensuring that SMBs aren't left behind."
About Hylobiz – A Vayana Group Company
Hylobiz - A Vayana Group Company builds solutions targeted
primarily to small businesses and financial services. Hylobiz's
digital-first solution is a unified FinTech platform that solves
cash flow management in a way that helps businesses to manage their
accounts receivables and accounts payables with greater ease.
To Facilitate growth of deserving MSMEs/ Micro Entrepreneurs,
alongside other incidental areas where the working capital credit
gap remains globally, Vayana Debt Platform ("VDP") is built as a
comprehensive blockchain-based loan operating system for digital
currencies/deposit tokens/CBDC/Fiat. It enables regulated/alternate
lenders and other credit investors to lend to businesses on the
Blockchain, harnessing the power of smart contracts to fully
digitize their lending operations.
Parent company Vayana is India's Largest Trade Credit Infrastructure,
specializing in supply chain finance & other B2B trade credit
solutions. Vayana's mission is to democratize the access of timely
and affordable trade credit to the smallest entity in the supply
chain. Headquartered in India,
Vayana has partnered with 20+ banks, serving 3000 supply chains.
Vayana offers a range of solutions via its trade finance
infrastructure to help enterprises optimize every day B2B
Trade. Visit www.vayana.com
About The Hashgraph Association
The Hashgraph Association is at the forefront of the digital
enablement and empowerment of organizations through the broad
adoption of Hedera-powered enterprise-grade solutions and
decentralized applications, including funding training, innovation,
and venture building programs globally. As a non-profit
organization headquartered in Switzerland, The Hashgraph Association
supports and funds innovation, research, and development that
enables economic inclusion and a digital future for all, with a
positive environmental, social, and governance (ESG) impact. For
further information about The Hashgraph Association,
visit www.hashgraph-association.com.
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