#HyperledgerPayments: Applications Making Financial Transactions Easier, Faster and More Accessible – Hyperledger Foundation 2025 Update: Off to a Fast Start! Read on → Search Join About About Explore membership Members Technical Advisory Council Governing Board Speakers Bureau Staff FAQ Store Contact us Technologies Ledger technologies Interoperability Integration & implementation Decentralized identity Cryptographic tools & protocols Project matrix Labs All projects Deploy Certified service providers Vendor directory Training partners Participate Why get involved? How to contribute Contribute to code Host your project with us Regional chapters Special interest groups Job board Resources Linux Foundation ID Logos & guidelines Trademarks & guidelines Charter Code of conduct Github repos Discord Wiki Mailing lists Report a security bug Learn Case studies Training & certifications Use case tracker Member webinars Insights News Blog Announcements Newsletters Events Events Meetups Meeting calendar Join Follow Us Blog | Digital Currency | Finance #HyperledgerPayments: Applications Making Financial Transactions Easier, Faster and More Accessible Hyperledger | Jun 30, 2022 Bitcoin, Ethereum and other altcoins have sparked a range of investments, industries and even emotions. However, there is a fast-growing array of digital currencies and electronic payment systems that are focused specifically on leveraging distributed ledger technologies to make fundamental financial transactions easier, faster and more accessible both at the wholesale and retail level. As this recently released ebook details, central banks around the world are exploring ways to leverage different Hyperledger DLTs to introduce Central Bank Digital Currencies (CBDCs). However, there is #HyperledgerPayments action happening on a number of fronts and leveraging a mix of Hyperledger technologies. Below, we highlight a few of the Hyperledger-based applications that are already in the market, rewriting the rules for how money and value are delivered, stored and spent. This sampling showcases the global reach of both Hyperledger technologies and blockchain payment systems: Bakong Sponsored by the National Bank of Cambodia, the country’s central bank, Bakong is the first retail payments system in the world using blockchain technology. Built on Hyperledger Iroha, Bakong delivers value for customers, merchants and banks. Individuals can now transfer money and buy from merchants with a simple smartphone app. Merchants gain a fast, cashless, and secure payments system. And banks can do interbank transfers at much lower cost. Bakong was developed by Soramitsu and, after a soft launch in 2019, now has nearly 40 financial institutions (and counting) using the system. The project was also designed to promote financial inclusion for the country’s large number of unbanked citizens. Any citizen of the country can open a Bakong account, even if they don’t have a traditional bank account. The more than 500 merchants that accept Bakong can be viewed in a map inside Byacco Soramitsu also created a local payment system for the University of Aizu, Japan, based on Hyperledger Iroha – technology that was originally developed within the walls of the University. Byacco is an app that students use to add and access digital money to pay local goods and services, split bills at the university cafeteria and stationary shop and send and receive money with a low (1 ¥) fee. Kate Coin  KBC bank in Belgium has introduced blockchain-based Kate Coin to customers using its KBC Mobile app. Powered by Hyperledger Fabric, Kate Coins are issued to customers as loyalty rewards. To start, the Kate Coins can be used to pay for banking and insurance services. However, the goal is to scale up its use through partnerships with business customers and other third parties that want to reach KBC Mobile app users, first in Belgium and then across the HBC group.  Twig  To help drive the circular economy, UK-based Twig has created a system that allows consumers to turn their pre-owned electronics, clothes and other goods into cash. Users are paid for their goods via Hyperledger Sawtooth-based Twig Pay, where they can see incoming payments and tap into the cash for purchases and transfers.  Join the conversation about solutions and applications in the financial service market with #HyperledgerPayments on social channels. For a deeper dive, join us at Hyperledger Global Forum 2022, September 12-14 in Dublin, Ireland. Sessions will include: A Hyperledger Fabric-based Programmable Money Platform – Robert van Donge, IntellectEU & Dirk Hermans, KBC Group  Hosted Discussion: Private Credit on Blockchain – Anshuman Asthana, Marketnode  Saudi Aramco, Procure to Pay Eco-System – Ali Safri, Avanza Innovations & Abdullah M Askari, Saudi Aramco US Digital Currency: Opportunities, Challenges and Strategies – Jim Mason, DTCC Hands-on-Workshop: Moving Central Bank Digital Currency from Conception to Reality with Hyperledger Technologies – Elli Androulaki & Angelo De Caro, IBM Cover photo by mohamed_hassan from PxHere View previous blog post Back to all blog posts View next blog post The latest community news in your inbox Select the checkboxes below for the monthly decentralized digest and dev/weekly newsletters About LF Decentralized Trust The Linux Foundation's flagship organization for the development and deployment of decentralized systems and technologies. About Members TAC Governing board Speakers bureau Staff FAQ Contact us Technologies Ledger technologies Interoperability Integration & implementation Decentralized identity Cryptographic tools & protocols Project matrix Labs Participate Why get involved? How to contribute Contribute to code Host your project with us Regional chapters Special interest groups Job board Deploy Certified service providers Vendor directory Training partners Resources Linux Foundation ID Logos & guidelines Trademarks & guidelines Charter Code of conduct Github repos Discord Wiki Mailing lists Report a security bug Learn Case studies Training & certifications Use case tracker Member webinars Insights Events Events Meetups Meeting calendar News Blog Announcements Newsletters Meeting Calendar Copyright © 2025 The Linux Foundation®. All rights reserved. LF Decentralized Trust is a trademark of The Linux Foundation. For a list of LF Decentralized Trust's trademarks, please see our Trademark Usage page. Linux is a registered trademark of Linus Torvalds. Privacy Policy and Terms of Use.