Key Takeaways
- The Hashgraph Group has launched “TransAct” to help businesses use distributed ledger technology without handling cryptocurrency.
- The platform is designed to meet enterprise compliance requirements and reduce technical complexity.
- With the new platform, clients retain full control over their transactions, even as the system handles backend operations.
- TransAct is part of The Hashgraph Group’s broader strategy to promote institutional use of blockchain through regulated infrastructure and long-term investment.
The Hashgraph Group (THG), a Swiss-based technology firm, has introduced a new platform called TransAct, aimed at simplifying enterprise access to Hedera’s distributed ledger technology (DLT) by removing the need to use cryptocurrency.
According to the company, the solution aims to eliminate major operational and compliance hurdles that have slowed corporate adoption of blockchain.
By removing the requirement to hold or manage digital wallets and eliminating direct payments of transaction fees, commonly known as gas fees, TransAct allows institutions to access the Hedera network through a fully managed cloud-based platform.
With TransAct, we are removing one of the major barriers to enterprise adoption – the complexity and compliance risk of holding crypto and managing digital wallets,” said Stefan Deiss, Co-Founder and CEO of The Hashgraph Group.
Under the new system, businesses can carry out transactions on Hedera while being invoiced in U.S. dollars or other fiat currencies, effectively bypassing the need to acquire Hedera’s native token, HBAR. The service includes an enterprise-grade service level agreement (SLA), monthly billing, and an intuitive interface for monitoring network activity.
TransAct will handle wallet management behind the scenes, while clients retain full control of their signing keys to ensure they maintain oversight and authorization, according to the company. “Clients always retain control over their private keys, with our gateway securely processing their transactions,” said Micha Roon, Head of Engineering at THG.
A Closer Look at the Technology and the Minds Behind TransAct
Hedera, the infrastructure underlying TransAct, operates on a distributed ledger model that differs from traditional blockchains through its use of hashgraph consensus. This approach enables fast transaction processing with low energy consumption, allowing users to confirm transactions within seconds and maintaining security through “asynchronous Byzantine fault tolerance”.
The network is governed by a rotating council comprising global organizations, such as Google, IBM, and Deutsche Telekom, a structure intended to support decentralized oversight and operational stability.
The Hashgraph Group, the firm behind TransAct, is based in Switzerland and has recently focused its efforts on developing enterprise applications built on Hedera.
Its initiatives include launching a regulated HBAR exchange-traded product listed in European markets, a joint project with AgNext to apply distributed ledger technology to agricultural traceability, and a collaboration with KPMG India focused on digital identity and asset tokenization.
The group operates with a regulated $100 million venture fund licensed by the Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA), enabling it to finance and support long-term commitments to enterprise-grade distributed ledger solutions.
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