One of BSV’s most popular wallets, HandCash, will now be able to support fungible tokens thanks to a deal with Tokenized. First up will be Circle’s USDC stablecoin, and the company will be adding others soon, including tokenized BTC, Dogecoin, and EUROC.
— HandCash (@handcashapp) June 29, 2022
Support for external assets has been on HandCash users’ wish-list. The company noted it “is all about streaming money across apps, games and websites at lightning speeds” and wants to involve as many people and businesses as possible. In a blog post, HandCash said it was important to find a partner who could “keep our selling point intact.”
The wallet has supported NFTs on the RUN protocol and NFTYJigs since January 2022 as endpoints—they’re usually used inside other apps users connect to HandCash, and/or games. Two of the most popular are Haste Arcade and DuroDogs, which generate millions of transactions per month.
Some wondered if HandCash partnering with Tokenized would affect the “competition” between BSV’s various token protocols. HandCash CEO Alex Agut and Tokenized CEO James Belding both said the notion of competition was overblown—but Agut may have opened another can of worms with criticism of BSV’s designed-for-interoperability token protocol, STAS:
You mean internally? RUN is what we use for NFTs, Tokenized for FTs… Might change in the future but they are currently serving two different purposes.
On a first read I assumed you were referring to STAS vs Tokenized… you know the reasons why we think STAS won't work.
— Alex Agut (@apagut) June 30, 2022
HandCash had also previously partnered with Circle and Fabriik Weave to enable in-app top-ups. With its 4.1.0 release in May 2022 and a KYC process, users can have a lifetime top-up limit of US$10,000. Since most use HandCash for games, apps, and smaller daily payments, that’s a lot.
The company said it would be measuring demand for potential assets to support, adding that Tokenized’s “robust and feature rich platform, and set of APIs” would allow it to add new ones at negligible cost.
It described Tokenized’s team as “A+ players” and said adding this support was “one of the last missing pieces for nanopayments to become the default way for monetizing digital products.”
HandCash chose Tokenized as its preferred token platform for its interoperability and easy integration with its own Fungible Token Protocol. Tokenized’s code is open source, and its cloud-based smart contract agent allows any user with a private key to interact with the platform without needing permission from either HandCash or Tokenized. The contract agent would also allow atomic swaps, escrows, payment channels, and other more complex functions.
The Fungible Token Platform is designed to handle tokens that interoperate with non-BSV assets, meaning HandCash will become an issuer on Tokenized’s platform. There’s also the possibility for it to issue/trade non-fungible tokens (NFTs) later, though it would depend on demand and other development priorities.
Tokenized CEO James Belding said his team is “all big fans of HandCash’s app, so we’re thrilled to collaborate with them.”
“In addition to our two companies having a complementary set of core competencies, we also believe we have a strong alignment in terms of values, particularly our shared obsession with creating the best possible customer experience and a strong commitment to delivering products and services of exceptional quality,” Belding told CoinGeek.
Agut thanked Belding and Tokenized “for never giving up on the possibility of working together.”
— Alex Agut (@apagut) June 29, 2022
HandCash also added that Tokenized provides a standardized system for token issuance, making it both easy and regulatory-friendly to add new assets in the future. Tokenized came with a complete platform ready to handle anything HandCash needed and saved time by already building a lot of the infrastructure HandCash would’ve had to develop itself if it had chosen just a protocol.
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