HWG Cash — Asia’s First Regulated Cash Token Unveiled
HWGG Capital P.L.C announces its first and only stable fiat-pegged cash token, which can be used to make fast, safe, and secure transactions on the blockchain.
Kuala Lumpur, 12 March 2019 — The era of uncertainty and volatility has come to an end for cryptocurrencies as HWGG Capital P.L.C, one of the leading blockchain payment solutions providers in the region, has officially announced the release of HWG Cash, a fiat-pegged cash token issued on the everiToken public chain. Approved and supervised under the Labuan Financial Services Authority, HWG Cash is the first licensed cash token in Asia, the only stable and secure token amongst cryptocurrencies.
Each HWG Cash token issued in circulation is pegged to the equivalent amount of US dollar currency to safeguard its stability. This eliminates any risk of volatile price fluctuations seen in many other digital tokens in the market. HWG Cash can be used by consumers and businesses via the company’s new payment app HwgPay, now available for download from the Google Play Store and Apple App Store for Android and iOS devices respectively.
Leveraging blockchain technology, HwgPay is a digital asset wallet that can be used to store, send, receive and make payment using digital assets and cash tokens such as Bitcoin, Ethereum and HWG Cash. HwgPay is the perfect complement to HWG Cash, offering a seamless user experience for consumers to make online digital asset transactions in a secure and compliant manner.
“Digital assets have been rapidly gaining traction and many countries are recognizing its potential and value as the future of online payment solutions,” said Gavin Lim, Chief Executive Officer of HWGG Capital P.L.C. “HWG Cash represents an exciting opportunity for the mass market to experience Asia’s first and only fiat-pegged cash token. We are committed to deliver the next-gen digital asset that is not only intuitive and easy to use but also regulated and supervised under a recognized authority.”
Converting fiat currency to HWG Cash Tokens is a simple and straightforward process. Users first need to deposit their fiat currency to a designated HWGG Capital P.L.C account to be converted to HWG Cash Tokens. Token holders will then be able to use the tokens to make digital asset payments and transactions via the HwgPay app. Similarly, whenever the user wants to make a withdrawal, they can easily redeem the HWG Cash Tokens to fiat currency from the company through their platforms, which the latter will be credited to withdrawers’ bank accounts.
The designated HWGG Capital P.L.C account is audited every quarter and reported to the authority for monitory purposes — greatly increasing the security for both user and merchant assets. HWGG Capital P.L.C strives to offer fiat to digital and digital to fiat exchange in a safe, stable, and fast manner by reducing the barriers and obstacles typically associated with other cash tokens. Other incredible benefits of HWG Cash include no withdrawal fees for users and instant liquidation of digital assets to cash.
“Digital tokens have been around for quite some time but it is currently underutilized in the market due to the lack of understanding, trust and belief among consumers, volatile fluctuation in pricing, and other concerns related to blockchain technology,” said Yoshikazu Nishimura, Chief Technical Officer of HWGG Capital P.L.C. “HWG Cash tokens use everiToken public chain technology as its core due to its security, speed, and ease of use. Consumers and merchants are able to make digital asset transactions without any fear of price fluctuations, security risk, excess fees or third-party interference.”
Technology from everiToken, the world’s fastest commercial public chain, underpins the newly issued HWG Cash token, also integrating other convenient features. everiPay, everiToken’s payment solution, helps provide HWG Cash users with unparalleled speed through its industry-leading 10,000 transactions per second (TPS) capacity and average transaction confirmation time of less than 1 second per transaction.
“We are excited to be working with Asia’s first fully compliant fiat-pegged stablecoin,” said Brady Luo, CEO of everiToken, “and are confident that this new technology will become the standard for payments. everiToken’s technology solution helps ensure that HWG Cash users will enjoy the same or better payment convenience that they experience from major payment processing brands like Visa, all from the comfort of their own smartphone.”
HWGG Capital P.L.C is officially licensed under the Labuan Financial Services Authority as a payment operator, credit token business and money broker for digital assets. The company is committed towards driving the usage of HWG Cash to the mass market in the region by offering users next generation payment solutions at their convenience, while adhering to the highest security and compliance standards. Merchants and consumers are highly encouraged to reach out to HWGG Capital P.L.C to learn more about implementing HWG Cash as their digital payment solution.
For more information about HWGG Capital P.L.C and HWG Cash, please visit www.hwggcapital.com / www.hwgcash.com
About HWGG Capital P.L.C
HWGG Capital P.L.C (HWGG Capital) is a leader in blockchain payment solution based in the Federal Territory of Labuan, Malaysia. Founded in 2017, HWGG Capital P.L.C is a licensed entity for Money Broking for Digital Assets, Credit Token Business and Payment Operator by the Labuan Financial Services Authority. With its Money Broking for Digital Assets license, the company provides an Over-The-Counter platform to facilitate trading of fiat currencies and digital assets including but not limited to fiat-to-fiat, digital assets-to-digital assets and fiat-to-digital assets.
The company has also obtained licenses as a credit token business and payment operator, which allows the company to issue Asia’s first stable fiat-pegged tokens and develop its own blockchain payment app to introduce and connect the mass market users to digital assets payment solution. HWGG Capital P.L.C is committed to building the next generation digital asset payment solution for mass adoption of merchants and users, locally and internationally. For more information about HWGG Capital P.L.C, visit their official website at www.hwggcapital.com or www.hwgcash.com
About everiToken
everiToken is the world’s fastest commercial public chain, delivering technology that helps businesses across the world tokenize assets, issue stable tokens, and integrate reliable cryptocurrency payment solutions. Founded in early 2018, everiToken became the first public chain to achieve 10,000 TPS on its mainnet and has won numerous awards, including the Florin Prize for fintech innovation. One of the main benefits of everiToken technology is the Safe Contract, which allows any developer to create standardized smart contracts simply by connecting to an API. everiToken’s technology is used to tokenize volunteer data for Zhiyuan Hui, the world’s largest volunteer platform.
For more information, please contact:
ROOTS PR Sdn Bhd
Andrew Leong
H/P: +6017 473 7042
Email: andrew.leong@rootsasia.com
Lydia Chia
H/P: +6012 603 1121
Email: lydia.chia@rootsasia.com
HWGG Capital P.L.C.
Goh Ing Chien
H/P: +6014 227 2443
Email: goh@hwggcapital.com
