MoonPay, Hedera network partner to enable Americans easy access to HBAR token


TL;DR Breakdown

  • MoonPay partner HBAR network to improve adoption of its token.
  • Payment solution says it lives to make crypto trading very easy.

MoonPay, the global payments solution for cryptocurrency, and The HBAR Foundation have announced that US customers in most states can now purchase the Hedera network’s native token, HBAR, through MoonPay’s platform. The Hedera network is the most used, sustainable enterprise-grade public network for the decentralized economy.

MoonPay connects applications like wallets, NFT marketplaces and games with crypto liquidity sources, and enables dApp users to buy and sell assets with credit cards and bank transfers. Moonpay already provides HBAR support for users outside of the US, and will now expand that support stateside. The payment platform currently supports 47 states, with more coming soon.

Hedera network trying to improve adption of HBAR token

“We’re proud of this expansion of MoonPay’s support of the Hedera ecosystem,” said Shayne Higdon, CEO and Executive Director of the HBAR Foundation. “Now it will be easier for customers in the US to buy and sell HBAR, removing much of the friction that was there previously. This is an important step toward the HBAR Foundation’s goal of wider acceptance of the Hedera network as the platform choice for developers.”

As a 3rd generation proof-of-stake public distributed ledger, Hedera offers 10,000 transactions per second, near real-time settlement, and low fees and bandwidth consumption. The Hedera Governing Council is led by global institutions and designed to be completely decentralized. Launched in 2018, the public network has processed over 1.75 billion transactions generated by real-world applications and has over 410k accounts. Built around a core pillar of environmental sustainability, the Hedera network has achieved carbon neutrality and its Governing Council is committed to carbon negative network operations.

Moonpay’s objective align with Hedera network vision

“We started to make buying and selling cryptocurrencies easier,” said Ivan Soto-Wright, co-founder and CEO of MoonPay. “The Hedera network is seeing increasing adoption throughout the world and we are excited that our partnership will bring availability of its HBAR token to additional US customers.”

This integration has expanded to other projects in the HBAR ecosystem as well. Wallawallet is an HBAR wallet provider and an early adopter of Moonpay. “The platform has been helping users of Wallawallet get access to HBAR for more than a year,” said JR Fletcher, CEO and Co-founder of Ledgerama LLC, creator of Wallawallet. “Now, after much anticipation, we are over the moon to see HBAR supported on our home turf in the USA!”

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Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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