With the release of Hydro Pay this summer and the coming releases of Hydro Vault and Hydro Drive later this year, Hydro Labs is showing the world real practical use and benefits of blockchain technology that can be accessed today.
CAYMAN ISLANDS, CAYMAN ISLANDS / ACCESSWIRE / August 19, 2019 / Hydro Labs is excited to share their new go-to-market remittance partner for Hydro Pay - Liquid. Liquid is a unified, globally sourced trading platform that bridges the worlds of fiat and crypto. The Liquid platform provides a range of fiat pairs which, when combined with Hydro Labs tech, is set to disrupt the $700 billion-dollar remittance industry.
With more than $50B in transactions on their exchange over the past 12 months, Liquid is ready to be the bridge to the future world of finance. According to BTI, this makes them one of the top 5 cryptocurrency exchanges by volume in the world.
The team at Hydro Labs will be working closely with Liquid to explore their platform and to integrate Hydro Pay’s P2P and Remittance solutions into their Quick Exchange, which allows users to “swap one cryptocurrency for another, safely and easily in a few steps”.
This collaboration is a key launch point for drastically reducing remittance costs for billions of people across the globe.
Through this partnership, Hydro Labs will be able to offer both P2P and B2B clients the ability to send money across borders with the lowest remittance fees on the planet. According to research conducted by Hydro Labs, these fees are substantially lower than both current industry leaders, Paypal and TransferWise.
Liquid currently offers JPY, EUR, USD, SGD, HKD, and AUD fiat trading pairs. Global remittances average around 7% for these pairs, while Paypal and TransferWise range from 1.75% to 4.5%, depending on the pair. Hydro Pay will be able to offer these remittances from 0.75% to 1.5% each, saving consumers and businesses up to 5x in fees from these industry leaders and up to 9x via traditional bank wires.
The team at Hydro Labs is also hard at work completing development of the industry’s first crypto storage wallet with blockchain based 2FA built right into the smart contract (Hydro Vault). This will be followed up by Hydro Drive, which will allow users to store, sign, and stamp important documents needed for things such as KYC without compromising their identity to centralized institutions. Hydro Drive is connected to Hydro Pay and Hydro Vault via Hydro’s ERC-1484 digital identity protocol which is the anchor tying the ecosystem together.
With the release of Hydro Pay this summer and the coming releases of Hydro Vault and Hydro Drive later this year, Hydro Labs is showing the world real practical use and benefits of blockchain technology that can be accessed today. It is estimated that less than 2% of crypto projects have real world working products. The Hydro Labs team strongly believes that because their products bring real word value; they will be adopted by people all over the globe, being used daily for years to come.
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SOURCE: Hydro Labs