Hedera (HBAR) has made a notable entrance into the cryptocurrency arena by joining the UK Cryptoasset Business Council (UKCBC). This move, highlighted in a recent Hedera article, showcases the platform’s commitment to fostering innovation and growth in the UK’s crypto landscape, alongside industry leaders such as Ripple and Coinbase.
Hedera Joins UKCBC
In a recent X post, Hedera (HBAR) has announced its membership in the UK Cryptoasset Business Council (UKCBC) alongside key players from the blockchain industry. Importantly, Hedera’s integration into the UKCBC marks a pivotal moment for the platform, aligning it with key figures in the Web3 space.
Meanwhile, through its association, Hedera demonstrates optimism to collaborate with esteemed institutions like Coinbase, Ripple, Archax, and Uniswap Labs in a collective effort to drive innovation and advance the adoption of decentralized technologies in the UK.
Besides, Hedera expressed enthusiasm about joining the UKCBC, emphasizing its dedication to nurturing Web3 innovation and growth within the region. This move not only amplifies Hedera’s presence but also signifies its commitment to cooperative endeavors aimed at shaping transparent and efficient regulatory frameworks for the crypto industry.
A Closer Look Into UKCBC
The UK Cryptoasset Business Council (UKCBC) serves as a pivotal platform within the UK’s crypto ecosystem. According to its website, it primarily focuses on supporting users, investors, and businesses while advocating for innovation and consumer protection through informed policy decisions.
In addition, committed to promoting collaboration and best practices, UKCBC boasts a roster of prominent industry players, including Moonpay, Kraken, Chainalysis, and more. This diverse membership base, which now includes Hedera, Ripple, and Coinbase, underscores the council’s influence in shaping the future of crypto regulation and fostering trust and sustainability within the industry.
However, despite the positive announcement, the Hedera price traded near the flatline over the last 24 hours at $0.1114. Its trading volume fell 19% in the same timeframe to $71.12 million. Notably, the HBAR price slipped about 5% in the last seven days, while noting a monthly surge of around 6%.
Hedera team announced partnership with MISA
Recently, the non-profit organization, The Hashgraph Association, has entered into a five-year partnership agreement with the Ministry of Investment of Saudi Arabia (MISA).
The statement said that the parties plan to develop innovative technological solutions through cooperation at the local and global levels. The agreement provides for the attraction of additional investments in the amount of $250 million.
The Hashgraph Group also announced the launch of the DeepTech Venture Studio platform. It is designed to empower local companies and international firms interested in operating in Saudi Arabia.
It is reported that DeepTech Venture Studio will support several areas: artificial intelligence, blockchain, robotics, Internet of things, virtual reality and quantum computing.
About Hedera
Hedera is an open-source, decentralized public network built on distributed ledger technology (DLT). The developers position it as a third generation network, which is highly scalable and secure. Hedera Hashgraph is governed by a board of companies responsible for software development and determining the development path of the protocol.
