WiCoin is a stablecoin launched by WiPay, a financial technology company with offices in Africa, the Caribbean, Columbia, and the US. It was launched to address the challenges of cross-border remittance and financial exclusion in its operational regions. It was built on the Hedera network utilizing the Hedera Token Service (HTS) and Hedera Smart Contract Service (HSCS) and is pegged to the US dollar.
It forms the backbone of the WiCoin Settlement Network, designed to create a unified system for transactions across numerous Caribbean islands, each with its own currency. It also extends into African markets and currencies.
The primary goal of WiCoin is to "bank the bankless" by providing an accessible and efficient means for cross-border payments and settlements by leveraging Hedera's fast transaction speeds, low and predictable fees, and robust security through its asynchronous byzantine fault tolerance (ABFT).
WiPay is supported by the Hedera HBAR foundation and seeks to enhance financial inclusion and streamline economic activity in underserved regions by providing a locally-accessible bridge between traditional banking services and low-cost, speedy digital transactions.
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Its core functionality offers a data trail for on-chain information. Once data is logged via Hashlog to the HCS, it cannot be altered or retrospectively tampered with, providing a high degree of data integrity. This is particularly useful for use cases requiring regulatory compliance, dispute resolution, or the tracking of critical operational processes. Developers integrate Hashlog systems using APIs or SDKs.
By utilizing Hedera, Hashlog provides decentralized trust, cryptographic verification, and public accessibility (if desired) for the logged information. Its applications span across multiple domains, including supply chain management for tracking goods, IoT data streams for device event verification, and legal tech for timestamping documents.
Edge is a US-based non-custodial cryptocurrency wallet provider that was founded in 2014. Its primary product, Edge Wallet, is a multi-asset mobile application that allows users to buy, sell, store, and trade a wide variety of cryptocurrencies.
Key services include in-app cryptocurrency purchases through various third-party providers, crypto-to-crypto swaps, and the ability to purchase gift cards with cryptocurrency. A distinguishing feature of Edge is its "zero-knowledge" security architecture, which means that the company has no access to user funds or data. The wallet uses a simple username and password system for account creation and backup, which is a more familiar experience for mainstream users compared to traditional seed phrases.
Edge has a direct integration with the Hedera network, providing full support for HBAR and other Hedera-based assets. This allows users to securely store and manage their HBAR within the Edge wallet. The integration is seamless, enabling users to easily send, receive, and trade HBAR alongside other major cryptocurrencies.
AID:Tech is a payments infrastructure firm that utilizes blockchain and digital identity technologies to improve the distribution of aid, social welfare, and other financial entitlements. Its core mission is to deliver these resources with enhanced transparency, efficiency, and accountability, ensuring they effectively reach their intended beneficiaries.
The company develops solutions focused on creating secure digital identities for recipients, which are then linked to the disbursement and tracking of aid or services. A key aspect of its technological approach is the integration of the Hedera network. AID:Tech leverages the Hedera Consensus Service (HCS) to create immutable and transparent audit trails for all transactions and the delivery of benefits.
AID:Tech’s goal is to minimize fraud and improve the overall integrity of distribution programs. Its platforms are aimed at governments, non-governmental organizations (NGOs), and international development agencies, providing them with tools to digitize processes, empower recipients, and gather reliable data on the impact of their initiatives.
WiPay is a financial technology company based in the Caribbean, founded in 2016. It’s dedicated to driving financial inclusion by providing a secure and accessible platform for online payments, bridging the gap between traditional banking services and the large unbanked population in the region.
WiPay offers a comprehensive suite of payment solutions for both businesses and individuals. Its core services include online payment processing for e-commerce, credit card terminals for in-person transactions, and a system for creating and managing digital vouchers. The platform also supports recurring payments and subscriptions, providing a full suite of tools for merchants. For consumers, WiPay offers the COLOUR app, a "super app" for peer-to-peer payments, bill payments, and other financial services.
WiPay launched the WiCoin Settlement Network, the Caribbean's first multi-territory settlement network, on the Hedera mainnet. This initiative leverages Hedera's high-throughput, low-cost, and secure infrastructure to facilitate a new level of financial interoperability across the Caribbean.