The credit union services firm, CULedger will be teaming up with Hedera, a DLT startup, to come out with a new payment option for its customers. This will be a nonpublic system for doing cross-border payments that both these firms will collaborate and make.
They will join hands on a public network that is based on Hashgraph. This is a software created by the software giant Swirlds. This could be a very good option for the business to give a boost to their payment expansion. There was an earlier announcement by the credit union services firm that it would be working with Hashgraph private version in order to connect with the credit union groups. They would be including all the credit unions that are appreciative of the blockchain technology and setup.
The new development that is taking place now shows that CULedger is very keen on expanding its business payment options and also to improve on the kind of services that it offers. The CULedger is looking to build a comprehensive and foolproof system to identify and also for global payments. This is why it will be paired Hedera Hashgraph with another identity solution provider MyCUID.
By introducing the new system, the current painful cross-border payment process will come to an end.