Hedera concluded a successful proof-of-concept (PoC) trial for stablecoin remittances.
The MetaMask will now allow users to engage with Hedera’s decentralized apps.
Decentralized Public Network Hedera Hashgraph has announced that it would integrate MetaMask through the HIP-583, making it more accessible to a wider range of users. Furthermore, Hedera recently concluded a successful proof-of-concept (PoC) trial for stablecoin remittances in partnership with Shinhan Bank, SCB TechX, and other financial institutions.
Users of MetaMask will now be able to access and use Hedera DApps in a streamlined manner thanks to this integration. In order to facilitate this connection, the Hedera ecosystem will provide support for wallets and apps that use the JSON-RPC protocol.
Moreover, changes include the ability to move HBAR across 0x accounts, greater usability through revised “token associations,” improved connectivity with MetaMask, and support for Ethereum Virtual Machine (EVM) tooling. Also, the well-known Ethereum wallet MetaMask will now allow users to engage with Hedera’s decentralized apps without any issues. In their official blog, they outline a methodical process for creating DApps.
Pilot for Stablecoin Remittances
Through the use of distributed ledger technology (DLT), Hedera Hashgraph has contributed to the ease of international money transfers. It has completed a proof-of-concept (PoC) trial for stablecoin remittances. This is in conjunction with Shinhan Bank, SCB TechX, and other financial institutions.
Hedera’s highly efficient and ecologically friendly open-source public network was used by the collaborative efforts of several financial institutions in Taiwan.
Three different currencies (the Thai Baht (THB), the New Taiwan Dollar (NTD), and the South Korean Won (KRW)) were settled in real-time during the trial, and real-time foreign exchange rates were incorporated into the platform without any noticeable hiccups. Any stablecoin issuer using EVM may make use of this framework going ahead since this PoC is entirely compatible with EVM.