Hesab has selected Movement as the exclusive stablecoin settlement layer for its new Global Self-Custody Bank, the company said Tuesday.
This partnership aims to shift control of financial assets from centralized institutions to individual users. By implementing a self-custody model, Hesab intends to provide a full-stack financial platform that allows people in emerging markets to maintain true ownership of their money.
The Global Self-Custody Bank is designed to operate across more than 160 countries [1]. This expansive reach focuses on providing stablecoin infrastructure to regions where traditional banking systems may be inaccessible or unreliable.
Movement will provide the underlying settlement layer necessary for the bank to process transactions. This technical integration allows the platform to handle stablecoin movements with the security and speed required for a global banking operation.
"Hesab, the global digital payments platform, today announced the company has selected Movement as the exclusive stablecoin settlement layer for its new Global Self-Custody Bank," Globe Newswire said [1].
The move signals a broader trend toward decentralized finance where users manage their own private keys rather than trusting a third-party custodian. By utilizing Movement's infrastructure, Hesab intends to bridge the gap between traditional digital payments and decentralized asset management.
According to the Financial Post, the initiative is specifically designed as "a full-stack financial platform that gives users across emerging markets true ownership of their money" [1]. This approach targets the systemic inefficiencies of cross-border payments, and the volatility of local currencies in developing economies.
“Hesab has selected Movement as the exclusive stablecoin settlement layer for its new Global Self-Custody Bank.”
The integration of Movement's settlement layer into Hesab's banking model represents a push toward 'banking-as-a-service' using blockchain technology. By targeting more than 160 countries, Hesab is attempting to scale self-custody—the practice of holding one's own digital keys—into a mainstream financial product. This reduces reliance on traditional intermediary banks and potentially lowers the cost of global remittances for users in emerging markets.
