The Hashgraph Association and Hylobiz – a Vayana subsidiary – launch debt-based financial products on Hedera DLT network

Hylobiz’s B2B lending platform tech built upon Hedera’s decentralized network focused on enabling streamlined digital access to low-cost financing for SMBs globally. 

HYDERABAD, India, May 9, 2024 /PRNewswire/ — The Hashgraph Association (THA), the Swiss-based organization at the forefront of global digital enablement, has partnered with Hylobiz, a Vayana group company, for the launch of decentralized debt-based financial products built on the Hedera DLT network. Leveraging Hedera’s decentralized, open-source public ledger, Hylobiz’s software as a service (SaaS) B2B lending platform enables easier access to affordable financing for small and medium-sized businesses (SMBs) globally.

With 65 million firms, or 40% of formal micro, small, and medium enterprises in developing countries, facing unmet financing needs of $5.2 trillion every year, Hylobiz is addressing this financing gap through a blockchain-powered solution. The collaboration with THA will expand the on-chain availability and adoption of debt-based financial products in traditional and capital markets, thereby giving the real-world asset (RWA) segment access to a larger pool of liquidity.

Using the Hedera decentralized public network, Hylobiz is providing an infrastructure for SMBs to help reduce the overall cost of servicing loans, facilitate easier movement of capital from a surplus location in the world to a deficit one, and use features of programmable money to bring efficiencies. The offering includes access to Vayana Debt Platform (VDP), a securities & loan tokenization module available off-the-shelf for lending businesses to handle digital currency-based transactions and deploy on Hedera immediately. 

Kamal Youssefi, President of The Hashgraph Association, stated, “We share the same vision of Hylobiz and Vayana in creating an ecosystem where digital finance is embedded in a transaction invisibly, securely, and transparently. We are proud to be partnering with the Vayana group and believe that the Hedera DLT network is essential for the growth of SMBs in emerging markets, evening out the playing field and allowing them to compete on equal footing with the big global industry players.”

Manish Gadia, Head Emerging Tech Platforms (ETP) at Vayana Group, commented, “Hylobiz’s partnership with THA fits within Vayana’s mandate to serve the B2B debt segment digitally with a special focus on SMBs, ensuring the lowest affordable landing cost. Vayana Group has proven expertise in Web2 and through partnerships such as this we are extending our capabilities of creating world-class financing infrastructure in Web3 as well. Usage of blockchain and smart contracts will help usher in a new age of finance and by democratizing access to this new realm, the Vayana ecosystem is ensuring that SMBs aren’t left behind.”

About Hylobiz – A Vayana Group Company

Hylobiz – A Vayana Group Company builds solutions targeted primarily to small businesses and financial services. Hylobiz’s digital-first solution is a unified FinTech platform that solves cash flow management in a way that helps businesses to manage their accounts receivables and accounts payables with greater ease.

To Facilitate growth of deserving MSMEs/ Micro Entrepreneurs, alongside other incidental areas where the working capital credit gap remains globally, Vayana Debt Platform (“VDP”) is built as a comprehensive blockchain-based loan operating system for digital currencies/deposit tokens/CBDC/Fiat. It enables regulated/alternate lenders and other credit investors to lend to businesses on the Blockchain, harnessing the power of smart contracts to fully digitize their lending operations.

Parent company Vayana is India’s Largest Trade Credit Infrastructure, specializing in supply chain finance & other B2B trade credit solutions. Vayana’s mission is to democratize the access of timely and affordable trade credit to the smallest entity in the supply chain. Headquartered in India, Vayana has partnered with 20+ banks, serving 3000 supply chains. Vayana offers a range of solutions via its trade finance infrastructure to help enterprises optimize every day B2B Trade. Visit www.vayana.com

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About The Hashgraph Association

The Hashgraph Association is at the forefront of the digital enablement and empowerment of organizations through the broad adoption of Hedera-powered enterprise-grade solutions and decentralized applications, including funding training, innovation, and venture building programs globally. As a non-profit organization headquartered in Switzerland, The Hashgraph Association supports and funds innovation, research, and development that enables economic inclusion and a digital future for all, with a positive environmental, social, and governance (ESG) impact. For further information about The Hashgraph Association, visit www.hashgraph-association.com.

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