Haycen receives approval to issue stablecoin in Bermuda, plans to launch pound-pegged token

Haycen, a trade finance company, has received a stablecoin issuance license from the Bermuda Monetary Authority (BMA), according to CoinDesk. The company plans to launch 1:1 collateralized stablecoins in multiple currencies, including a British pound pegged token. Haycen's target market is B2B businesses, regulated entities, and non-bank lenders in the cross-border trade finance sector, a sector long considered underserved.