HashGraph, a key developer within the Hedera (HBAR) ecosystem, is poised to launch HashSphere, a private blockchain built on HBAR, in Q3. This initiative, as reported by CoinDesk, targets banks and asset management firms seeking compliant payment and remittance solutions using stablecoins. HashSphere leverages the robust foundation of the Hedera network while offering flexibility. Notably, it supports Solidity, the popular development language for Ethereum, and is compatible with the Ethereum Virtual Machine (EVM). This allows developers familiar with the Ethereum ecosystem to easily build and deploy applications on HashSphere. By focusing on regulatory compliance and providing a platform for stablecoin-based transactions, HashSphere aims to bridge the gap between traditional finance and the benefits of blockchain technology. Its private nature offers enhanced control and security for financial institutions handling sensitive data and transactions. ```