BankSocial is a global financial technology firm working to bridge traditional financial (TradFi) systems with emerging digital asset technologies. It utilizes artificial intelligence, machine learning, and distributed ledger technology (DLT), on the Hedera blockchain network.
The company offers a suite of integrated financial products and services designed for both individuals and enterprise financial institutions, with a specific focus on credit unions and their members. Key offerings include a self-custody crypto exchange, know your customer (KYC) user verification solutions, lending services, and the $BSL token, which offers staking with potential stablecoin rewards. Its ecosystem also encompasses a payments hub, fraud management tools, a digital wallet, and custom software and API development.
Its focus on the credit union sector allows it to provide partners with technology bridging TradFIi with Web3 and offers secure self-custody for cryptocurrency holdings and access to a suite of DeFi tools through a user-friendly interface.
The firm holds a Money Services Business (MSB) registration with the US Treasury’s Financial Crimes Enforcement Network (FinCEN) and Canada’s FINTRAC through Fivancial Inc.
BankSocial also developed the Secura platform, in collaboration with Hedera, which focuses on real-time fraud monitoring and asset recovery in the Web3 space.
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The InterWork Alliance (IWA) is an organization focused on simplifying and standardizing the use of token-powered services for businesses. As an initiative of the Global Blockchain Business Council (GBBC), the IWA works to create a common language and framework for tokenized assets, which allows different blockchain networks and applications to work together seamlessly.
The alliance's primary mission is to empower organizations to adopt and use token-based distributed services in their day-to-day operations. To achieve this, the IWA has developed several key frameworks, including the Token Taxonomy Framework (TTF), which provides a common set of definitions and standards for tokens of all types. The IWA also has a strong focus on sustainability, with task forces dedicated to creating standards for Voluntary Ecological Markets and Carbon Emission Tokens.
The Hedera network and its ecosystem partners are active members and contributors to the InterWork Alliance. Hedera has collaborated with the IWA on its Sustainability Working Group, and several applications built on Hedera are designed to be compliant with the IWA's standards.
Circle's USD Coin (USDC), integrated with the Hedera network, offers a regulated, fiat-backed stablecoin pegged to the US dollar. This collaboration allows USDC to be minted natively on Hedera, leveraging the network's fast settlements (around 3-5 seconds), low transaction fees (typically $0.0001 to $0.001, paid in HBAR), and high scalability.
USDC on Hedera provides a trusted, stable, and reliable bridge for decentralized finance (DeFi) applications and end-users on the Circle and Hedera networks. Circle's increasingly popular suite of developer APIs offers full support for USDC on Hedera, facilitating its use in various applications including both payments and micropayments.
With USDC, enterprises and financial institutions have access to cross-platform liquidity and secure cross-border transactions. It’s currently used to facilitate payments and micropayments within applications such as Calaxy, Dropp, and Scintilla as well as to in support of numerous DeFi, NFT projects, and network bridge applications building on Hedera including SaucerSwap and Hashport.
Rivia is a Dallas-based technology firm specializing in stablecoin, payments, and finance infrastructure solutions. Its flagship product, the Rivia US Dollar ($rUSD) stablecoin, is a low-cost settlement layer token pegged to the US dollar and used to facilitate global financial transactions and remittances via immutable blockchain ledger technology.
Its stablecoin offering is based on a "proof of reserve" (PoR) guaranteeing a 1:1 backing for its $rUSD stablecoin. $rUSD is broadly integrated across numerous digital payments and assets services and provides cross platform compatibility with major distributed ledger technologies including Hedera, Ethereum, Algorand, and Solana.
Rivia’s stablecoin model emphasizes collaboration with US credit unions to create expanded access to American markets. Key features of its offerings include low-cost, high-speed transactions, global accessibility, and enhanced security and stability derived from credit union liquidity distribution.
Its established partnerships include integrations with financial institutions such as Fivancial, LoneStar, Resource One, Plaid, and Janusea.
Inara World is a publishing platform that is working to create a new, tokenized economy for ebooks. Its focus is on solving the revenue and engagement challenges that authors face in the traditional publishing market.
The core of Inara's service is its "Streaming Ebooks" platform. This innovative model allows readers to pay for what they read, one page at a time, through a system of micropayments. This eliminates the need for readers to purchase an entire book upfront or to subscribe to a service. For authors, the platform provides a direct and transparent revenue stream, where they are paid for every page that is read.
The entire Inara World platform is built on the Hedera network. This integration is fundamental to the platform's ability to process a high volume of micropayments in a fast, secure, and cost-effective manner. By using Hedera, Inara provides a seamless and scalable solution for its tokenized ebook economy, creating a more equitable and engaging experience for both authors and readers.