hashbank merges traditional banking and Web3 in one app

W Group, a global fintech ecosystem, is introducing hashbank, a digital bank that merges traditional banking services with Web3 infrastructure in a single app. The bank, fully licensed by the National Bank of Georgia, allows customers to manage fiat and crypto assets seamlessly. Users can receive digital assets from external wallets, exchange them for fiat, and send assets to external blockchain addresses, with support for over 150 digital assets.

hashbank eliminates the need for users to navigate separate systems for banking and crypto transactions. The app integrates traditional banking services with external crypto wallet connectivity, ensuring transactions are secure with authentication, address verification, anti-money-laundering procedures, and blockchain analytics. This creates a borderless banking model that combines fiat, crypto, and international money transfers.

Volodymyr Nosov, Founder and President of W Group, emphasized the importance of bridging Web2 and Web3 worlds. 'We are not building businesses that exist only in Web2 or only in Web3. The biggest opportunities will emerge between them,' he said. hashbank, which began operating in 2024, has approximately 60,000 customers across 73 countries and is the first fully licensed bank in the South Caucasus and Central Asia to offer this integrated model.

hashbank benefits from a direct integration with WhiteBIT, a crypto platform with 10 million users. The bank is part of W Group's broader ecosystem, which serves around 40 million users globally. Future developments include expanding international payment rails, new currencies, cross-border corridors, and banking as a service to support fintech companies and crypto platforms.