On March 31, developers of the Hedera Hashgraph network unveiled the beta version of a new EVM-compatible blockchain, HashSphere, aimed at corporations in regulated industries. This was announced in a press release.
The solution is positioned as a private, permissioned protocol designed to offer blockchain services to asset managers, banks, and payment service providers for secure and low-cost cross-border transactions with stablecoins.
The full launch of the network is scheduled for the third quarter of 2025.
The platform integrates existing Hedera tools, including the Token Service for digital asset management and the Consensus Service for recording transactions with trusted timestamps.
Currently, the team is collaborating with early partners, including Australian Payments Plus, the national payment system operator of Australia.
“From the outset, Hedera’s vision has been to create ‘shared worlds’—interconnected networks where enterprises could leverage distributed ledger technology without compromising on privacy or governance,” noted Andrew Stakivich, Head of Solutions at Hashgraph.
Rob Allen, Head of Web3 Strategy at Australian Payments Plus, highlighted privacy, regulatory compliance, and network interoperability as key advantages of HashSphere.
In April 2024, HBAR Foundation—the developer of the Hedera blockchain—tokenized the U.S. Treasury Money Market Fund by BlackRock.
In March 2023, the blockchain platform suffered an attack, resulting in the theft of an undisclosed amount.