Cryptocurrency, powered by blockchain technology, gives us a glimpse of the future of a decentralised, secure digital asset ecosystem. The volatility of cryptocurrencies and lack of commercial use cases remain deterrents to the adoption of digital assets as a serious payment solution. HWGG Capital PLC, a blockchain payment solutions provider, hopes to change this with its latest payment service: HWG Cash Card. The new offering enables consumers to use their digital assets like Bitcoin and Ethereum as payment globally.
Partnering bank like UnionPay and the VISA Payment network, the HWG Cash Card can be used internationally in over 200 countries and businesses across the globe.
Another plus point of the HWG Cash Card is that it allows you to convert your digital assets for daily online, offline, and withdrawal transactions—as convenient as using cash. With the HWG app and HwgPay wallet you can easily manage your prepaid card balance and check transaction activities on-the-go.
You can top up the prepaid card balance with HWG Cash stable token using the dashboard function on HwgPay wallet. The top-up amount will be reflected in the HwgPay wallet within 24 hours once the transaction is approved and verified by both HWGG Capital and the partnering bank. The wallet system can be funded by blockchain digital assets such as Bitcoin (BTC), Ethereum (ETH) and HWG Cash (HWGC), and ERC-20 Compliant tokens, or virtually any blockchain token in the future.
HWG Cash is a public chain token that is built on the everiToken public chain, the world’s first token-customised public chain for the token economy. Each HWG Cash token issues into circulation is backed in a one-to-one ratio (HWGC : One USD).
If you’re interested to know about the HWG Cash technology stack, read this: HWG Cash Token White Paper.
How to apply
You can apply for the HWG Cash Card directly via HwgPay wallet and choose your preferred payment network of UnionPay or VISA for the prepaid card. Upon approval, the card will be sent to your doorstep via secure post within seven days.
To date, HWGG Capital has received over 100 applications for HWG CASH Card since its soft launch on 10 June 2019. The company anticipates a total of 5,000 cards to be issued by the end of 2019.
Download the HwgPay app on Android. iOS version to come.
Who is HWGG Capital?
In case you were wondering, HWG Cash is Asia’s first regulated stable cash token issued by HWGG Capital and it is pegged to the US Dollar, and licensed under Labuan Financial Services Authority (LFSA).
HWGG Capital PLC is a leader in blockchain payment solutions based in the Federal Territory of Labuan, Malaysia. The company is part of the Ho Wah Genting Group of companies. Founded in 2017, the company is a licensed entity for money broking for digital assets, credit token business and payment operator by the LFSA. With the money broking for digital assets license, the company provides an over-the-counter platform to facilitate trading of fiat currencies and digital assets including but not limited to fiat-to-fiat, digital assets-to-digital assets and fiat-to-digital assets.
The company also has licenses as a credit token business and payment operator, which allows it to issue Asia’s first stable fiat-pegged tokens.