Combining Traditional Banking and Digital Assets
W Group has highlighted the development of hashbank, a fully licensed universal digital bank that integrates traditional fiat banking services with the open Web3 economy within a single mobile application. The platform allows users to receive digital assets from external wallets and platforms, exchange them for fiat, and send them to external blockchain addresses, with support for more than 150 digital assets.
Historically, bank accounts and cryptocurrency infrastructure have functioned as separate systems, requiring users to navigate between banks, crypto platforms, and external wallets. hashbank combines these functions into one banking environment 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.”
Regulatory Standing and Regional Reach
hashbank obtained a full banking license from the National Bank of Georgia in 2023 and commenced live operations in 2024. Serving approximately 60,000 customers across 73 countries, hashbank is the first fully licensed bank in the South Caucasus and Central Asia to offer an integrated model within a mobile banking application. The platform serves both individuals and businesses and features direct integration with WhiteBIT.
“By introducing this service, hashbank sets a new precedent for banking in Georgia and the wider region, strengthening the bridge between traditional banking and digital assets,” said Goga Chanadiri, CEO of hashbank.
Looking ahead, hashbank plans to expand its international financial infrastructure by developing international payment rails, new currencies, cross-border corridors, and banking-as-a-service offerings to serve fintech companies, crypto platforms, and other businesses requiring regulated financial services.
