Haycen Receives Stablecoin Issuance License from Bermuda Monetary Authority

Haycen has obtained a stablecoin issuance license from the Bermuda Monetary Authority (BMA). This license allows Haycen to issue and manage 1:1 collateralized stablecoins in various currencies, offering yield-bearing products.

  • Targeting B2B markets, regulated entities, and non-bank lenders
  • Stablecoin market cap is approximately $280 billion
  • Focus on cross-border trade finance
  • Stablecoins include a British pound-denominated token, fully collateralized at all times
  • Partnership with Northern Trust for custody and cash management services
  • Backed by the U.K. government's National Security Strategic Investment Fund

CEO Luke Sully emphasized the importance of regulatory clarity from the BMA for developing stablecoin solutions that add value to global businesses.