Built on Hedera - Bitwave - Payments

Añadido: 2026-05-26

[00:00:00]So, we are actively looking for people who want to pay bills on Hedera.

[00:00:05]All right. So, I'm here with Pat White.

[00:00:07]A couple weeks ago, we covered that there was an integration with Hedera and Bitwave around payments on USDC and HBAR. Yep.

[00:00:16]Can you tell us a little bit about the integration and what it means both for Bitwave and for Hedera? Yeah, I mean, we are so excited. Hey, we've been in the in the Hedera ecosystem for a long time.

[00:00:24]So, they've been a customer for ours.

[00:00:26]We've been integrated with them for the accounting product for a very, very long time. So, we're huge fans. Any sort of like high velocity, you know, enterprise-centric platform gets us really excited. So, that's an easy one.

[00:00:36]We've been in Hedera for a long time.

[00:00:37]What we announced a couple weeks ago was that it was integration with our payments product. This is a B2B payments. Payments is one of those words that like it means whatever you want it to mean whoever whoever uses it.

[00:00:47]>> Yeah. So, you hear payments all the time. Bridge, Stripe, payments, payments, payments. There's a slice of payments which is like B2B payments. So, this is, you know, you're getting worked on your house, someone sends you an invoice, you send them money, they send you the invoice, you send them money.

[00:00:59]That's B2B payments. In the enterprise world, that's, you know, you think about that at scale. Walmart sends Coca-Cola invoices, Coca-Cola sends Walmart invoices, all that kind of back and forth. The traditional companies that do that, they monetize in a in a very antiquated way.

[00:01:14]>> Sure. So, these are big companies like Bill.com, Intuit, and folks like that.

[00:01:17]The way they monetize is 65% of their revenue comes from monetizing access to the rail. So, if you think about like, you know, you and I, if we just wanted to like go off and start using ACH, we couldn't do it. We'd have to go through a third party. We'd have to go through Stripe. Like, we we could not, without a lot of regulatory hoops, get access to those rails, the wire rails, Swift rails, ACH rails. Like, you just don't you just can't do that easily. Mhm. So, crypto, obviously, is that's the answer.

[00:01:45]Is that there's now a model where the rails are open. Anyone can move USDC on Hedera. Anyone can move HBAR on Hedera.

[00:01:52]So, you can't monetize on the rails. So, these older companies like Bill.com, they're have about 65% of their revenue comes from monetizing the rail. That's float. That's uh 15% is float. So, that's where, you know, uh I don't know, like your paycheck. The way this works is the company who's paying you, they take the money out of their bank account, someone holds it for 2 or 3 days, and then it goes in your bank account. That's money that's interest that's kind of being stolen from you as a company or you as a consumer. And so, 15% of big payment managers come out of float. 50% comes from fees. $50 to send instant payments. $20 to mail a check.

[00:02:26]$10 to overnight something. All of that goes away in a crypto in a in a stablecoin first world. So, we built our product. This is Bitwage Payments. It's been around for over a year. We've done over 200 million TPV through it at this point. It's super exciting. We just launched it on Hedera. So, we are actively looking for people who want to pay bills on Hedera. So, if you have if you want to pay your suppliers, get paid by your suppliers, pay your vendors, all that kind of stuff, we've got a thing for it. We're basically giving it away right now for anyone getting into this on that work there.

[00:02:54]And the idea is that you we don't monetize the rail at all. There's it's a straight SaaS product. So, if you want to integrate with QuickBooks and things like that, you pay some money for that piece. But, it's a straight SaaS. We don't charge you bips. So, we don't charge you a percentage of the transactions. We don't charge you uh we don't hold the money because we just rely on the rails themselves. All of that just happens. And then all we do is basically we help you kind of integrate with your ERP, help you send out the invoices, do penny testing. Like that's kind of the important thing is making sure that their address is that they have access to it and they want to use it and things like that. Making address validation, ERP integration, invoice management, all of that. That's what we do. And uh it's ready and it's out there. Perfect. One more thing you already explained it so well.

[00:03:34]One of the things that I had been thinking about with USDC is any businesses that wanted to utilize USDC, they still had to have an off-ramp in the US dollars themselves because their bills mostly are going to be in US dollars. Is that going away?

[00:03:48]>> That's that's the goal. That's what that's what we're all here for. Like that's a know, that's where we can monetize you can do some bips monetization these days is you can monetize off-ramping, on-ramping, stuff like that. But no, the long-term goal here is is you get the big companies like Coinbase and Kraken and folks like that, you know, using payments and using paying out USDC. That then means a bunch of their suppliers then have USDC and then they decide to keep it in in there and then they pay out and you can build up and then you can start to see other cool stuff happening cuz like we're at the very we're at the very beginning of of digital asset payments. Like all of us are talking about like well, how do we move USDC around? That's not the really cool stuff. Like that's the table stakes and it's it's better and faster and cheaper than traditional uh payment rails, but that's not the cool stuff.

[00:04:30]The cool stuff is smart contracts that are on chain so that like a you know, a container hits Long Beach, someone scans that container and it releases a bunch of payments all the way down a chain to a guy who makes screws in Vietnam. Like that's the future of this stuff and we're not even doing that yet. Like this is still we're still so nascent, you know, and so young as an industry that the really really cool stuff isn't here yet. We're still like just doing the beginning, but it's still fun. Yeah, absolutely. Well, Pat, thank you for telling us about it and of course thank you for building on it today.

[00:04:57]>> Amazing. Thank you so much.