String Metaverse launches BillsOnChain beta on Hedera
String Metaverse Ltd has launched the beta version of BillsOnChain, a blockchain-enabled digital billing platform built on the Hedera Network in collaboration with The Hashgraph Group. The platform aims to transform receipts and invoices into secure digital assets, achieving early adoption with over 31,000 users and 830,000 receipts recorded on-chain. Key features include tokenized invoice financing, automated reconciliation, and AI-driven analytics designed for governments and financial institutions.
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String Metaverse Ltd has launched the beta version of BillsOnChain, a blockchain and artificial intelligence-enabled digital billing platform developed on the Hedera Network. The platform was introduced in strategic collaboration with The Hashgraph Group, a Switzerland-based Web3 and AI engineering company, to enhance digital billing infrastructure. This initiative aims to provide secure, time-stamped, and verifiable digital records for receipts, invoices, and bills, transforming them into immutable blockchain-based digital assets.
BillsOnChain utilizes distributed ledger technology to offer on-chain recording of billing information and tokenized representations of billing records. The platform is designed to streamline financial operations through automated reconciliation and duplicate-invoice detection capabilities. Since its launch, the platform has recorded over 830,000 receipts on-chain, minted more than 430,000 NFTs representing tokenized billing assets, and onboarded over 31,000 wallet-enabled users on the Hedera network.
The solution integrates comprehensive workflows for both accounts payable and accounts receivable. It also features advanced analytics and compliance-related controls to support organizational governance. The platform combines Hedera's enterprise-grade distributed ledger technology with artificial intelligence to enable tokenized invoice financing, immutable receipt verification, and cross-border billing infrastructure.
Key Features of BillsOnChain
| Feature | Description |
|---|---|
| On-chain recording | Secure recording of billing information on the blockchain |
| Tokenized records | Digital token representations of billing records |
| Automated reconciliation | Streamlined matching of financial transactions |
| Duplicate-invoice detection | Identification of repeated invoice submissions |
| AP and AR workflows | Management of accounts payable and receivable |
| Analytics | Data insights for financial monitoring |
| Compliance controls | Mechanisms to ensure regulatory adherence |
Ganesh Meenavalli, Managing Director of String Metaverse Ltd, stated that the platform represents a milestone in building financial infrastructure for the Internet Transaction Economy. Stefan Deiss, Co-Founder and CEO of The Hashgraph Group, highlighted the potential for automated VAT refund processing and tax reclaim automation. The disclosure was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Historical Stock Returns for String Metaverse
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -6.56% | -24.23% | -47.72% | -71.87% | +3,906.25% |
How will the platform's ability to facilitate tokenized invoice financing impact liquidity for small and medium-sized enterprises?
What are the potential regulatory challenges for automating VAT refunds and tax reclaims using blockchain technology?
How scalable is the solution given the rapid adoption of over 31,000 users and 830,000 receipts in the beta phase?
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