The Hashgraph Group and String Metaverse have officially launched BillsOnChain, a new blockchain-based platform built on the Hedera network that aims to modernize billing infrastructure through invoice tokenization, automated VAT processing, and digital asset creation.
The platform seeks to solve longstanding challenges surrounding invoice management, payment delays, tax refunds, and fraud by bringing bills and receipts onto Hedera’s distributed ledger. According to the companies, BillsOnChain has already gained significant early traction, onboarding more than 31,000 users and processing over 830,000 bills within just two weeks of going live.
The launch reflects a growing trend of blockchain technology moving beyond cryptocurrencies into enterprise financial infrastructure, where transparency, automation, and immutable record keeping can reduce operational costs and improve efficiency.
BillsOnChain Targets Invoice Financing and Tax Automation
BillsOnChain transforms traditional invoices and receipts into verifiable on-chain records secured by Hedera’s distributed ledger technology. The platform enables businesses to securely upload receipts, build an auditable transaction history, and potentially unlock new financing opportunities by tokenizing invoices.
Among its primary features are immutable invoice storage, real-time transaction tracking, fraud reduction, automated compliance, and the ability to transfer or finance tokenized invoices more efficiently.
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The companies believe the technology could be particularly valuable for small and medium-sized businesses, which often struggle with delayed payments and lengthy VAT refund processes. In markets such as India, where SMEs reportedly experience average payment delays of more than 70 days, faster invoice verification and financing could significantly improve cash flow.
BillsOnChain also integrates artificial intelligence alongside blockchain technology to validate invoices, detect duplicate submissions, and provide spend analytics, creating an additional layer of automation for enterprises and government agencies.
Enterprise Blockchain Adoption Continues to Expand
The platform was developed through a strategic partnership announced earlier this year at the World Economic Forum in Davos between Switzerland-based The Hashgraph Group and India’s publicly listed Web3 infrastructure company, String Metaverse.
According to the companies, more than 430,000 NFTs have already been minted through the platform, representing digitized receipts and financial records stored on Hedera’s network.
The broader opportunity appears substantial. Industry forecasts cited by the companies estimate that the blockchain-based B2B payments and invoice market could grow from approximately $22.2 billion in 2025 to nearly $1.86 trillion by 2034, driven by increasing demand for secure invoice financing, fraud prevention, and faster settlement systems.
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Beyond private businesses, BillsOnChain is designed for governments seeking to digitize tax invoices, improve procurement transparency, and reduce fraud within public finance systems. For enterprises, potential use cases include automated accounts payable and receivable, cross-border billing, and tokenized invoice financing that could provide faster access to working capital.
As blockchain adoption increasingly shifts toward real-world financial infrastructure, initiatives like BillsOnChain demonstrate how distributed ledger technology is being applied beyond digital assets to address longstanding inefficiencies in global commerce. If adoption continues at its current pace, the platform could become another example of enterprise blockchain technology finding practical applications in everyday financial operations.
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