Recently, Ho Wah Genting Group and everiToken announced the official signing of a strategic cooperation. Strategic Partnership Agreement: Ho Wah Genting Group & EveriToken AG Stablecoin Issuance at EveriToken Public Chain: USD 500 Mln HWG Cash.
That means the Ho Wah Genting Group will issue a stable coin based on the everiToken public chain, and work together with everiToken to build a new ecosystem of global cryptocurrency payment.
The Ho Wah Genting Group has a number of companies covering the Internet, blockchain, tourism, entertainment, retail, travel and many other fields, includes crypto exchange with the first cryptocurrency market business certificate and operating credit card business license in Malaysia. In their business they need to solve problems caused by liquidity, trust and volatility. So that they are willing to issue a stable coin and these stable coins will have ready-made application scenarios to be used directly to solve problems encountered within the HWG itself. They are focusing on blockchain technology to promote entity development now.
The HWG cash is a Stable fiat-pegged Cryptocurrency with ERC20 compliant and easy conversion (Crypto-to-Crypto and Crypto-to-Fiat). Within which can introduce blockchain assets to the mass market. In order to meet these needs, the public blockchain need to support a large amount of trading volume, fast transaction confirmation, no security loopholes, legality and scalability.
everiToken public chain, registered in Zug Switzerland, has advantages in terms of TPS, Security, legality and compatibility, which are great foundation for issuing stable coins.
Based on everiToken’s innovations: The Token-Based brand new transaction model and using Safe Contract to replace Smart Contract. everiToken owns three core technical features: high TPS, high security and high standardization. Both traditional Apps and decentralized Apps(DApps) can use everiToken by calling token-related APIs to realize issuing transferring and managing tokens.
Besides, everiToken launches their killer project for blockchain payment called everiPay which won the first prize of Florin Innovation Prize in the Global Payment. everiPay is also known with these highlights:
Compatible, everiPay’s underlying protocol EvtLink, compatible with any existing device and payment mode.
Available, Implementation using existing mature technology, with Safe Contracts’ API, stable and scalable.
Most convenient, Considering the problems of payment scenario from the chain, can be the fastest and safest payment. It does not need to write smart contract which is convenient for projects to use everiPay.
Quick confirmation, Combined with everiToken public chain technology, transaction confirmation time is shortened to 1s.
everiToken has been focusing on the practical applications of block chain technology and hopes to make the blockchain technology benefit more people, let more people understand, participate in, and enjoy the convenience brought by the blockchain technology.
Combining everiToken’s technology and ideas, with everiPay and stable coins support from Ho Wah Genting Group, we believe that the strategic cooperation between Ho Wah Genting Group and everiToken will certainly help the development of the physical industry and open a new era for the offline crypto payment, which will be a pragmatic approach to the Token Economy.