Northern Trust will provide custody and liquidity management services to Haycen, a company specialized in creating solutions based on stablecoin for non-bank lending institutions in the trade finance sector. The announcement came via a press release issued by the company on Thursday. This collaboration aims to facilitate and modernize global trade through the use of stablecoin, which represent an innovative alternative to traditional payment methods.
The role of Northern Trust in the custody of Haycen’s stablecoin
Northern Trust Asset Servicing will handle the global custody management for the clients’ fiat deposits of Haycen. At the same time, Northern Trust Asset Management will provide cash sweep services, allowing for efficient liquidity management.
Stablecoins are cryptocurrencies whose value is pegged to a traditional asset like the US dollar or gold. In addition to being key instruments in the cryptocurrency markets, they are also used to facilitate international money transfers with greater speed and efficiency.
Haycen and the digitalization of trade finance thanks to Northern Trust
Operating between the United Kingdom and Europe, Haycen specializes in digital payment systems for trade finance, offering solutions based on stablecoin primarily aimed at non-bank credit institutions. This sector plays a crucial role in global commerce but is still heavily reliant on manual workflows, increasing costs and complexity for the companies involved.
One of the main obstacles in trade finance concerns precisely the access to financing, especially for small and medium-sized enterprises. The strict regulations and traditional procedures make access to capital complex, limiting the growth of commercial activities. In this context, stablecoins emerge as an effective solution to simplify and make financing in the sector more accessible.
Thanks to its infrastructure based on criptovalute, Haycen guarantees a greater availability of US dollars through stablecoin, offering immediate settlement times and reducing the typical friction in international transfers. This allows commercial operators to manage transactions more smoothly, eliminating the delays and high costs of traditional banking systems.
A market in transformation: stablecoins revolutionize the financial sector
The founder and CEO of Haycen, Luke Sully, emphasized the importance of stablecoins in international trade. According to Sully, the global flow of goods and services depends on unobstructed liquidity. However, recent regulatory developments have forced banks to scale back their operations in trade finance. This has created a void in the market, offering opportunities for non-bank operators seeking new ways to manage financial flows with an annual value of 2 trillion dollars, 95% of which are denominated in USD.
For these participants, the use of stablecoins not only improves financial returns but also ensures instant and free settlements globally, making transactions more efficient and transparent.
The involvement of the British government and new initiatives in the stablecoin sector
Haycen has received funding from the UK government to develop institutional-level stablecoin, a clear signal of the growing interest in this technology. Stablecoin, in fact, are attracting more and more attention from traditional financial institutions and major economic players.
In the same week, two other important news stories put stablecoins at the center of the financial debate. According to the Financial Times, Fidelity Investments is in the advanced stages of developing its own stablecoin, demonstrating the growing interest of large institutions in the sector. Additionally, World Liberty Financial (WLFI), a decentralized finance protocol supported by Donald Trump, has confirmed the plans for the launch of its own stablecoin.
Conclusions: the future of trade finance passes through stablecoins
The partnership between Northern Trust and Haycen represents a significant step towards the modernization of trade finance, a sector that has traditionally struggled to adopt digital innovations. The use of stablecoin to facilitate access to financing and speed up international transactions could profoundly influence the global trade industry.
The growing interest from institutions such as Fidelity Investments and World Liberty Financial indicates that stablecoins are no longer just niche tools, but are becoming an essential component in modern financial systems. With the support of regulated entities and governments, the future of trade finance could increasingly be based on digital assets, improving accessibility and efficiency for all the companies involved.