W Group has detailed the ongoing development of hashbank, a fully licensed universal digital bank designed to bridge traditional banking services with the open Web3 economy within a single mobile application.
Conventionally, traditional bank accounts and cryptocurrency infrastructure have operated as separate systems, requiring users to navigate multiple platforms and external wallets to complete cross-system transactions. hashbank addresses this by integrating banking services and external wallet connectivity into one environment, allowing customers to receive digital assets, exchange them for fiat currency, utilize standard banking services, and transfer digital assets to external blockchain addresses supporting over 150 digital assets.
Transfers are supported by authentication, address verification, anti-money-laundering procedures, and blockchain analytics.
“We are not building businesses that exist only in Web2 or only in Web3. The biggest opportunities will emerge between them,” said Volodymyr Nosov, Founder and President of W Group. “Our task is to build the infrastructure — bridge — that allows these worlds to work together.”
Licensing and Regional Reach
hashbank secured a full banking license from the National Bank of Georgia in 2023 and commenced live operations in 2024. The institution currently serves approximately 60,000 customers across 73 countries and represents the first fully licensed bank in the South Caucasus and Central Asia to offer an integrated digital asset and banking model within a mobile application.
The digital bank features a direct integration with WhiteBIT, alongside everyday and cross-border banking services for both individuals and businesses. WhiteBIT reports 10 million users on its platform, while the broader W Group ecosystem serves approximately 40 million users globally across 150 countries.
Future Growth and Infrastructure Expansion
hashbank's next development phase centers on expanding international financial infrastructure, including the implementation of new payment rails, additional currencies, cross-border corridors, banking-as-a-service, and embedded banking. These expansions aim to accommodate fintech companies, crypto platforms, and other corporate entities requiring regulated financial services.
In 2026, hashbank received the title of “Best New Digital Bank Georgia 2026” from the Global Banking & Finance Review for its technological achievements.
