The Hashgraph Group (THG), a Switzerland-based Web3 and artificial intelligence engineering company, and String Metaverse, India’s first publicly listed Web3 infrastructure company, have launched BillsOnChain, a blockchain-powered platform designed to convert everyday purchase receipts into tokenized digital assets. The platform, introduced on July 7, seeks to bridge conventional billing systems with blockchain technology by enabling receipts to become verifiable on-chain records that can support a range of financial applications.
The companies reported that the platform has already attracted more than 31,000 users with integrated wallets on the Hedera network. It has also processed more than 830,000 receipts on-chain and facilitated the minting of over 430,000 non-fungible tokens (NFTs) using Hedera’s distributed ledger technology.
Blockchain-powered billing ecosystem
BillsOnChain has been developed to transform physical receipts into tokenized digital assets by securely recording bills on Hedera’s blockchain, enabling immutable storage, transparent auditing, real-time tracking, and new financing opportunities through invoice tokenization.
The platform is intended to digitize billing processes through a decentralized and tamper-resistant framework capable of serving governments, financial institutions, enterprises, and small and medium-sized businesses. By placing invoices and receipts on a distributed ledger, the solution is expected to improve transparency while reducing fraud and strengthening regulatory compliance.
In addition to preserving invoices as immutable blockchain records, the platform enables financial obligations to be transferred between parties and supports bill financing through tokenization. The companies believe these capabilities could introduce greater liquidity into financial operations while modernizing invoice management across both the public and private sectors.
String Metaverse, which focuses on tokenization, decentralized finance, high-frequency trading, and digital asset infrastructure, partnered with The Hashgraph Group to develop the platform following an agreement signed during the World Economic Forum in Davos on January 20, 2026. The collaboration is aimed at advancing the digitization and intelligent processing of invoices, receipts, and bills by combining distributed ledger technology with artificial intelligence and machine learning. The partners indicated that blockchain would provide an immutable audit trail, while AI tools would support data validation, duplicate detection, and spending analytics.
Stefan Deiss, co-founder and chief executive officer of The Hashgraph Group, said the company’s long-term objective involves enabling automated value-added tax refund processing, tax reclaim automation, and real-time receipt analytics for merchants, financial institutions, and government agencies. He added that BillsOnChain demonstrates how the Hedera network can support invoice tokenization and stated that the company intends to continue working with String Metaverse to enhance global billing infrastructure and invoice financing capabilities.
Industry projections cited by the companies indicate that the blockchain-based business-to-business payments and invoice market is expected to grow substantially over the coming years. According to Business Research Insights, the sector could expand from approximately $22.2 billion in 2025 to nearly $1.856 trillion by 2034, driven by increasing demand for secure, real-time, and cost-efficient payment systems, along with broader adoption of blockchain-enabled invoice financing.
Ganesh Meenavalli, managing director of String Metaverse, said the launch represents an important milestone in the modernization of financial infrastructure. He explained that the company aims to build the underlying infrastructure for the internet-based transaction economy by bringing billing systems onto blockchain networks, increasing liquidity, transparency, and programmability. He added that the partnership with The Hashgraph Group would accelerate those objectives while delivering practical applications across industries and government organizations.
Deepak Lalan, chief operating officer of The Hashgraph Group, stated that the platform demonstrates how distributed ledger technology can address longstanding inefficiencies within financial systems. He added that Hedera’s enterprise-grade infrastructure offers the reliability, scalability, and security required to support global deployment while fostering greater trust and innovation.
Built on the Hedera network, the platform is designed to support high-throughput, low-latency transaction processing while enabling automated accounts receivable and payable systems, cross-border billing, tokenized invoice financing, transparent public procurement, tax invoice digitization, and fraud reduction across government and enterprise operations.