California based blockchain giant HashCash Consultants has launched its Crypto asset HCX.
HashCash, a blockchain remittance network operator has tied up with the largest banks, currency exchanges and payment networks to facilitate cross border payments on its blockchain network, HC NET.
The network uses the native digital asset HCX to conduct transactions securely. Every operation on the network consumes a small amount of HCX.
HCX was available only for enterprise purchase last year. HashCash said that it extends HCX purchase contracts to enterprises. Enterprises on HC NET can access their HCX accounts through the financial applications they use for cross border payments.
HC Remit, HC Corporate Payments and HC Market Maker appears to be the popular applications that HashCash offers to enterprises on its network.
Individuals can currently purchase HCX through the mobile app Paybito. A HashCash representative said that HCX will be made available through all major crypto exchanges of the world but did not offer a definitive timeline.
Paybito is a secure multi-signature wallet/exchange that conducts rigorous KYC and AML checks before users are allowed to make any purchase on the app. HCX can be purchased with USD and INR and is made available to Android users of the app at this time. Users will need to have USD or INR bank accounts and have to be residents in the respective countries.
Starting March 10, crypto traders in other countries can send Bitcoins from their wallets to the Paybito app and purchase HCX using Bitcoins after going through KYC/AML checks required by their respective jurisdictions.