Hedera Joins UK Crypto Council, Signaling Industry Validation

Hedera (HBAR) has joined the UK Cryptoasset Business Council (UKCBC) alongside industry leaders like Ripple and Coinbase. This move signifies Hedera's commitment to fostering innovation and growth in the UK's crypto landscape, while aligning with key figures in the Web3 space to drive innovation and advance the adoption of decentralized technologies in the UK. Through its association, Hedera aims to collaborate with esteemed institutions like Coinbase, Ripple, Archax, and Uniswap Labs to shape transparent and efficient regulatory frameworks for the crypto industry.

Hedera Joins UK Cryptoasset Business Council: A Signal of Growing Industry Credibility

In a move that highlights its commitment to innovation and collaboration in the UK's crypto landscape, Hedera (HBAR) has joined the UK Cryptoasset Business Council (UKCBC). This esteemed organization boasts a roster of industry leaders, including Ripple and Coinbase, who are dedicated to fostering the growth and adoption of decentralized technologies.

Why Hedera's Membership is Significant

Hedera's integration into the UKCBC is a testament to the platform's growing recognition and influence in the cryptosphere. By aligning itself with such key players in the Web3 space, Hedera demonstrates its commitment to shaping the industry's future. Furthermore, this membership positions Hedera to collaborate closely with respected institutions like Coinbase, Ripple, Archax, and Uniswap Labs, driving innovation and advancing the adoption of decentralized technologies in the UK.

A Closer Look at the UKCBC

The UKCBC serves as a pivotal platform within the UK's crypto ecosystem, advocating for the interests of users, investors, and businesses. Its mission is to promote innovation, consumer protection, and informed policy decisions. The council's diverse membership base, which now includes Hedera, Ripple, and Coinbase, underscores its influence in shaping the regulatory landscape and fostering trust and sustainability within the crypto industry.

Market Response: A Modest Gain

Despite the positive announcement, Hedera's price has remained relatively stable over the last 24 hours, trading near the $0.1114 mark. Trading volume has declined slightly, reaching $71.12 million during the same period. While the HBAR price has slipped approximately 5% over the past seven days, it has experienced a monthly surge of around 6%.

Hedera's Partnership with MIS: A Catalyst for Growth

In a separate development, the non-profit Hashgraph Association has partnered with the Ministry of Investment of Saudi Arabia (MISA) for five years. Under this agreement, the parties will collaborate to develop innovative technological solutions and attract investments of up to $250 million.

DeepTech Venture Studio: Empowering Innovation in Saudi Arabia

The Hashgraph Group has also launched the DeepTech Venture Studio platform, designed to support local and international companies seeking to establish a presence in Saudi Arabia. This initiative focuses on emerging technologies such as artificial intelligence, blockchain, robotics, the Internet of Things, virtual reality, and quantum computing.

About Hedera: A Third-Generation Network

Hedera is an open-source, decentralized public network built on distributed ledger technology (DLT). It is positioned as a third-generation network, boasting high scalability and security. Hedera Hashgraph is governed by a board of companies that oversee software development and determine the protocol's development path.