PANews August 22 news, according to CoinDesk, the trade finance-focused company Haycen has obtained a stablecoin issuance license from the Bermuda Monetary Authority (BMA). The company plans to launch a 1:1 collateralized stablecoin backed by multiple currencies, including a pound-pegged token. Haycen's target market includes B2B enterprises, regulated entities, and non-bank lenders in the cross-border trade finance sector, which has long been considered underserved.

Haycen's stablecoin products will focus on reducing capital costs and enhancing companies' control over cash flow, with all tokens being fully collateralized. Additionally, Haycen has partnered with Northern Trust and received support from the UK's National Security Strategic Investment Fund (NSSIF).