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HomeCrypto NewsMarketHedera (HBAR) Scores Mega Partnership To Advance Payment Innovation

Hedera (HBAR) Scores Mega Partnership To Advance Payment Innovation

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Hedera through the HBAR Foundation has inked a partnership with the Digital Euro Association (DEA) to drive innovation in the industry.

The HBAR Foundation is the primary body behind the development of the Hedera protocol. Its alliance with the Digital Euro Association, a think-tank with an interest in driving digital payments evolution, will go a long way toward bolstering its authority in the industry.

As revealed, the partnership was cemented in the duo’s alignment of innovation pursuit as it concerns digital payments, stablecoin, and Central Bank Digital Currencies (CBDCs).

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The Perfect Alignment

As an association, the DEA thrives with multiple industry partners contributing to its advancement. The linkup between the Digital Euro Association and HBAR Foundation will bring the best minds together to work towards driving the growth of the blockchain ecosystem.

Hedera already boasts an advanced technology that enables the transfer of assets with fees at “a fraction of a cent.” 

The exact ways the HBAR Foundation will be contributing to the growth of the DEA remains unclear at this time. However, members of the DEA may learn how the HBAR Foundation was able to develop Hedera as a Carbon-neutral protocol while still solving the trilemma of speed, low cost, and decentralization.

“As the lowest carbon footprint decentralized ledger technology […] Hedera is uniquely positioned to contribute to the growth of the digital currency ecosystem,” said Shayne Higdon, CEO of the HBAR Foundation.

Notable Industry Collaborations

It is not uncommon to find two entities in the crypto world joining forces to advance the industry’s evolution. As seen, the emergence of spot Bitcoin ETF came owing to the linkup of many firms.

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In the Bitcoin ETF case, many of the issuers had to partner with Coinbase Exchange to offer custodial services for the product. The synergy between Ark Invest and 21Shares as well as Invesco and Galaxy Digital was also proof that partnerships may yield more for the entities involved.

The Digital Euro Association bonding marks the latest partnership the HBAR Foundation has inked in recent times and expectations are high as to what this alliance will bring forth.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Godfrey Benjamin
Godfrey Benjaminhttps://thecryptobasic.com/
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web3.0. His love for crypto was birthed when as a former banker, he discovered the obvious advantaged of decentralized money over traditional payments. With his vast experience covering different aspects of Web3, Godfrey's articles has been featured on Blockchain News, Cryptonews Com, and Coingape amongst others. When not writing contents related to crypto, you can find him playing video games.

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