Unibright Integrates Hedera Tokenization Service
- Integrating HTS will enable Unibright users to issue tokens on a globally distributed network.
- Developers will be able to configure, mint, and manage tokens on Hedera without deploying a smart contract.
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Introducing the newly-launched Hedera Token Service (HTS) to its platform will enable Unibright to scale asset tokenization and decentralized finance activities.
According to the company’s press release, the integration will enable Unibright to offer a fully integrated market infrastructure to its users. Launched in 2019, Unibright’s Freequity platform bundles issuance, regulatory compliant tools, and liquidity to provide a complete market integration to token issuers.
Mance Harmon, the CEO and co-founder of Hedera Hashgraph, said that providing full market integration raises the value of tokenization far beyond just financial instruments to include a broad set of data assets.
The addition of the Hedera Token Service (HTS) will provide Unibright users with the ability to issue tokens on a globally distributed public network. This enables enterprise users, looking to issue tokens, to leverage the existing network primitives while accessing configurable compliance tools. The company explained that developers can rely on a set of APIs to configure, mint, and manage tokens on Hedera, without needing to set up and deploy a smart contract.
“The ability for HTS to leverage existing network primitives was a major appeal in deciding to integrate Unibright Freequity with Hedera,” said Stefan Schmidt, the chief technology officer at Unibright.
- The Standard Bank and eftpos are the 16th and 17th nodes to join the Hedera Governing Council.
- Hedera will assist both companies in setting up the nodes, after which they will regain full control.
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- Unibright Connector already has a “tailor made derivation” of Concircle’s workflow solution — conFLOW.
- The partnership came about thanks to the companies mutual work on Baseline-related projects throughout 2020.
- The new UBT token will be used as “integration gas” for Unibright services, calculated and managed by Provide Payments.
- Users will be able to buy the assets either directly from Provide or from exchanges and will have to transfer them to Unibright’s hot wallets in order to use their platform.