CHICAGO, June 18, 2020 (GLOBE NEWSWIRE) — Zero Hash today announced the successful launch of supporting EOS and XRP. This further enhances its settlement infrastructure that is now leveraged by payment processors, lenders, exchanges and OTC desks. Zero Hash now supports settlement for over 600+ asset pairs, comprising a dozen digital assets and 20 fiat currencies.
Zero Hash provides the complete post-trade settlement infrastructure for over twenty platforms, including the largest digital asset payment providers in the world. Similar to how Banking-as-a-Services developed for traditional services, Zero Hash’s mission is to empower innovators by delivering immediate access to the financial system 2.0. This is achieved by effectively converting high fixed costs and multi-year lead times into variable costs, providing access to the digital assets and US clients, with a couple of lines of code.
“Payment processing is a significant business vertical. By adding EOS and XRP, we further empower our partners to expand their product offering in the US,” said Edward Woodford, CEO of Zero Hash. “Our product enables developers and businesses to focus on building experiences and products. We equalize access and create the opportunity for innovation by empowering an entrepreneur to launch a product in a day, allow companies to enrich their client experience through digital assets and open the US customer to existing brands, enriching choice and quality of service.”
Ivan Soto-Wright, co-founder and CEO of leading digital asset payment processor MoonPay, commented on working with Zero Hash: “At MoonPay, our mission is to make digital assets accessible to a billion people. One of the cornerstones of realizing this ambition is a commitment to the highest level of global regulatory compliance. The partnership with Zero Hash has enabled us to move much faster in servicing the US market versus going at it alone. Now our partner network of 100+ wallets, exchanges, and decentralized applications can enable their US-based users to make seamless purchases of EOS and XRP.”
Through a simple API, Zero Hash seamlessly enables platforms to connect customers with the global banking infrastructure and the entire digital asset ecosystem:
- Identity: Verify users’ identities with as little as 4 identifying pieces of information, with KYC/AML screening reports that fulfil all compliance requirements by US regulations.
- Account: Open multi-currency fiat accounts, supporting over 20 fiat pairs and 12+ digital assets.
- Balance: Verify real-time account balances and deposits across fiat currencies and digital assets, with ownership validation.
- Lock: Lock and unlock the withdrawals of assets in real time for committed and exited transactions.
- Transfer: Transfer the ownership of assets with Zero Hash providing the regulatory framework to serve 95%+ of the US population. All transfers can be automated with a full screening of assets to ensure compliance and peace of mind.
About EOS and XRP
EOS is a blockchain-based, decentralized system that enables the development, hosting, and execution of decentralized applications (dApps) on its platform. As of June 2020, EOS’ market cap was $2.57B.
XRP was originally developed for global payments and acts as an open-source, permissionless and decentralized blockchain technology that can settle transactions. The total transacted volume (on-chain) of XRP in 2020Q1 was $13,714,570,248.
About Zero Hash
Zero Hash’s mission is to empower innovators by delivering access to the financial system 2.0. Zero Hash enables developers and businesses to focus on building experiences and products. We power your favorite brokerage app or neo bank to offer BTC, provide the rails to the 2.0 payment processors, give platforms the ability to facilitate instantaneous cross border payments and eliminate complexity for moving assets for the world’s largest liquidity providers.
Zero Hash is a FinCen-registered Money Service Business as well as a regulated Money Transmitter that can operate in more than 40+ states (providing coverage to roughly 95% of the US population). Zero Hash also holds a virtual currency license from NYDFS. Zero Hash is required to seek approval from the New York Department of Financial Services before making any new digital asset available to New York residents. Zero Hash will seek such approval prior to making any new assets available to New York clients and will notify those impacted once approval is received.
Zero Hash offers the complete suite of settlement services for digital assets, and has complete dexterity in being able to settle any two-sided transactions it receives including spot, forwards, loans and single-sided payments for payments processors.
In 2019, Zero Hash was voted Innovator of the Year by the Profit & Loss Readers Choice Awards.
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