Hedera Partners with UKCBC Alongside Ripple, Coinbase

Hedera recently made headlines by partnering with UKCBC and also aligning itself with industry giants like Ripple and Coinbase.

Hedera (HBAR) has again brought itself into the limelight by announcing its participation in the UK Cryptoasset Business Council (UKCBC).

This is a significant development within the cryptocurrency field, and it has brought the company back into the spotlight.

It’s recent disclosure of this move underscores the platform’s commitment to fostering innovation and growth in the UK’s cryptocurrency ecosystem, in partnership with industry leaders like Ripple and Coinbase.

Hedera Joins UKCBC

In a recent post on X, Hedera (HBAR) announced that it will be joining the UK Cryptoasset Business Council (UKCBC). Other prominent figures from the blockchain industry also made the announcement.

Notably, incorporating Hedera into the UKCBC represents a significant turning point for the platform, as it aligns it with essential participants in the Web3 arena.

As a result of its membership, it is optimistic about the possibility of joining prestigious organizations such as Coinbase, Ripple, Archax, and Uniswap Labs in a concerted effort to promote innovation and advance the use of decentralized technologies in the United Kingdom.

In addition, Hedera expressed delight about joining the UKCBC and emphasized the organization’s commitment to encouraging Web3 innovation and growth within the region within the organization.

This action not only strengthens it’s presence but also has significant implications.Within the context of the cryptocurrency ecosystem in the United Kingdom, the UK Cryptoasset Business Council (UKCBC) functions as an essential platform.

The organization’s website states that its primary goal is to support users, investors, and businesses, while also promoting innovation and consumer protection through informed policy decisions.

Furthermore, UKCBC fosters collaboration and best practices, boasting a roster of essential industry participants such as Moonpay, Kraken, Chainalysis, and several other companies.

The broad membership base of the council, which now includes Hedera, Ripple, and Coinbase, exemplifies the council’s role in influencing the future of cryptocurrency legislation and building trust and sustainability within the industry.

Over the past 24 hours, the price of Hedera has hovered close to the flatline at $0.1114, even though the announcement was favorable.

According to the same time frame, its trading volume decreased by 19%, reaching $71.12 million. Notably, the price of HBAR has reduced by approximately 5% during the past week, while registering a monthly increase of roughly 6%.