“Today, digital tokens are being designed for all kinds of economic activities,” said Mance Harmon, co-founder and CEO of Hedera. “Tokenization of a huge range of assets will make traditional financing operations and interacting in marketplaces faster and less costly, fundamentally changing the existing processes for purchase order financing, obtaining loans for working capital, buying insurance, securing inventory financing, and invoice factoring. Tokenization will provide the foundation for enterprises to use distributed ledger technology (DLT) in routine business transactions, thus driving significant acceleration in enterprise adoption.”
The Hedera Token Service makes it easy for developers to manage tokens with scalable performance and predictable cost. Many public and private blockchains that offer tokenization carry the burden of expensive fees or upfront infrastructure costs, slow transaction speeds, complexity in managing governance, and regulatory obstacles. HTS makes it simple to issue native, multi-signature tokens with scalable performance, native compliance features, native token swap capabilities, and predictable costs — all on a reliable network governed by a council made up of large, global, trusted organizations.
Dr. Leemon Baird, Chief Scientist and co-founder of Hedera Hashgraph, said, “Enterprises are realizing that they can leverage distributed ledger technology for the decentralization of the financial layer of their businesses, making processes more efficient, reducing costs, and unlocking new revenue streams. In order to see significant benefit from this technology, they must abstract assets onto a platform that is faster, more efficient, and more secure than legacy supply chain and financing systems. This can include monetizing an organization’s assets, improving settlement efficiency, or accessing a new and growing market of utility tokens. We’re thrilled to see the enthusiasm for this functionality already today.”
Numerous applications and ecosystem partners are already evaluating and using HTS in several ways. These include:
Exchanges integrating with HTS include:
- Bittrex Global
- CoinZoom
- Hashgraph Exchange (HEX)
- Huobi
- Indodax
- Liquid
- OKEx
- Upbit
- XanPool
Custody Providers enabling custody for any token created on the Hedera platform include:
- BitGo
- InvestaX
- Ledger Vault
- OnChain
Wallets supporting tokens created on HTS include:
- BRD
- Coinomi
- Meeco
- Mingo
- MyHBARWallet
Applications that will issue tokens using HTS include:
- Best Innovation Group
- Calaxy
- Charity Shop Exchange
- The Chopra Foundation
- Diamond Standard
- DLA Piper
- Dovu
- Entrust
- Everyware Ltd
- GABL
- Jigstack
- MemberPass
- Mingo
- Power Transition
- RECDEFi
- RooShine
- SUKU
- TaskBar
- Tune.fm
Independent security auditors and assurance providers include:
- FP Complete
- Netki
- OnFido
- Quantstamp
- TRMLabs
Service Integrators and Standards Bodies
- BCW Group
- Envision Blockchain
- InterWork Alliance
- LimeChain
- TxMQ
- Unibright
Network Explorers
- Dragonglass
- Hash-Hash
- Kabuto
- Metrika
Supporting quotes
Council members
“Of the wide range of DLT-related legal advisory we undertake at Dentons, asset tokenization has been on increase. Regulatory challenges aside, ease of tokenization coupled with robust infrastructure for time and cost efficient transmission of tokenized assets are key requisites to achieving efficacy in broad based asset tokenization and exchange. Hedera Token Service (HTS) paired with Hashgraph’s high-speed low-latency consensus and low-cost transaction infrastructure fulfill these requirements and has HTS well placed to support the global movement towards asset tokenization and exchange.”
— Kenneth Oh, Senior Partner, Dentons
“As a governing council member, DLA Piper has been in support of the development of the Hedera Token Service (HTS) from initial concept through to mainnet availability. We can’t wait to see new applications being built using HTS, both internally and by the developers within the Hedera…
Read More:New Hedera Token Service Offers Native Token Issuance and Configurability
