Hedera (HBAR) Joins UKCBC Alongside Ripple & Coinbase

In a significant move within the cryptocurrency space, Hedera (HBAR) has once again stepped into the spotlight by announcing its membership in the UK Cryptoasset Business Council (UKCBC). Notably, this decision, revealed through a recent post by Hedera, underscores the platform’s commitment to fostering innovation and growth in the UK’s crypto ecosystem alongside industry giants like Ripple and Coinbase.

Hedera Joins UKCBC

In a recent X post, Hedera (HBAR) has announced to join the UK Cryptoasset Business Council (UKCBC) alongside key players from the blockchain industry. Notably, Hedera’s integration into the UKCBC marks a pivotal moment for the platform, aligning it with key players in the Web3 space.

Meanwhile, through its membership, Hedera shows optimism to join esteemed institutions like Coinbase, Ripple, Archax, and Uniswap Labs in a collective effort to drive innovation and advance the adoption of decentralized technologies in the UK.

Besides, Hedera expressed excitement about joining the UKCBC, emphasizing its dedication to fostering Web3 innovation and growth within the region. This move not only amplifies Hedera’s presence but also signifies its commitment to collaborative efforts aimed at shaping clear and effective regulatory frameworks for the crypto industry.

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A Closer Look Into UKCBC

The UK Cryptoasset Business Council (UKCBC) serves as a pivotal platform within the UK’s crypto ecosystem. According to its website, it primarily focuses on supporting users, investors, and businesses while advocating for innovation and consumer protection through informed policy decisions.

In addition, committed to promoting collaboration and best practices, UKCBC boasts a roster of prominent industry players, including Moonpay, Kraken, Chainalysis, and more. This diverse membership base, which now includes Hedera, Ripple, and Coinbase, underscores the council’s influence in shaping the future of crypto regulation and fostering trust and sustainability within the industry.

However, despite the positive announcement, the Hedera price traded near the flatline over the last 24 hours at $0.1114. Its trading volume fell 19% in the same time frame to $71.12 million. Notably, the HBAR price slipped about 5% in the last seven days, while noting a monthly surge of around 6%.

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.

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