Presented by the world-renowned ‘The European’, an independent business publication from London and audited by PPA (Professional Publishers Association), HUPAYX has won two 2019 Distinction Awards in Global Banking & Finance under the following categories: Most Innovative Blockchain Payment Solution and Most Disruptive Payment Technology Provider from South Korea.
The European continues with its annual recognition of excellence across the world of commerce. As the United Nations’ Sustainable Development Goals reshape the corporate agenda, companies are realizing that success is measured beyond the balance sheet. Along with product innovation, know-how, positive contributions to society and sound stewardship of the environment are becoming the benchmarks by which results are judged. HUPAYX is no exception in that matter.
The South Korean fin-tech firm, HUPAYX has gone from strength to strength in building a real-time payments platform that has become a spectacle of crypto and points(e-money) adoption through blockchain for the everyday economy. Thanks to a Hybrid Blockchain (private + public blockchain) technology, HUPAYX has solved issues of scalability, decentralization, and security. The company has also cut transaction time to mere seconds for its multi-digital currency wallet users, enabling near instantaneous digital asset transfer between its service members.
Founded in 2018, HUPAYX backed by its parent level, The Human Plus Inc., has been meticulously developing HUPAYX for more than 2 years, prior its incorporation. The company is currently holding 3 blockchain related patents, one of these approved patents being a blockchain exchange based point & crypto payment system. On the business front, HUPAYX has established two important strategic consortiums. The first consortium is World’s First Catholic-based Payment Service Consortium for transparent donations and utilization of funds. The second is Korea’s new AirBnB type Accommodation based Booking and Payment Consortium.
One notable distinction HUPAYX showed to ‘The European’ judging panel is its flexible business model that allows the firm to operate both in crypto restricted (such as South Korea) and in crypto friendly countries (such as some of the EU nations and Turkey). HUPAYX adopted point based payment system in a very smart way. Points, which are prepaid e-money pegged 1:1 to the local currency, have been around for more than 30 years. Inside of HUPAYX end-to-end payment ecosystem, points serve as an internal stablecoin, particularly in HUPAY Multi-Digital Wallet various digital currencies including crypto can be easily converted into those points and made payments with. Not only enabling crypto liquidation, but also reducing the fees as a result.
HUPAYX is planning to expand into EU starting next year by establishing a subsidiary in Luxembourg. The firm has also stated that it is looking into Brasil, Turkey and Southeast Asia for pilot projects and global scale up.