Behind the Idea: HOKK Finance

HOKK Finance is one of the original meme tokens that peaked at an $800million market cap in May 2021. It’s developing decentralized financial products to challenge modern banking and empower people to do more with their money.

From staking, rewards, and incredible products that you can use in your everyday life, HOKK Finance aims to help you grow your wealth and unlock crypto in ways you never thought possible. The company is a firm believer in “frictionless crypto,” the concept that crypto should not come with barriers when transferring and purchasing. Leveraging its global community of over a thousand holders that contribute to the decentralized, autonomous operation they can offer lower fees, faster build-time, and more products designed specifically for the crypto-generation of tomorrow

In light of this, Mark Basa, Global Brand and Business Manager at HOKK Finance, shares more on the tokens growth since its launch, and how more and more fintech companies are looking into crypto as a payment method

What has been the traditional company response to financial technology innovations nationally?

When HOKK Finance launched in May 2021, it reached an $800million market cap. It was ‘’meme-season’’ as they say, and it was clear to the team that creating a token based around financial technology and the freedoms it can bring was very promising to early holders. Traditional companies prior to the launch didn’t really take notice of meme tokens until Elon Musk went all in on Dogecoin. As one of the founders of PayPal, probably the most famous and earliest payment gateway of its type, he really accelerated the financial technology industry to take action on what crypto can do for their customers.

How has this changed over the past few years?

More financial technology companies are now looking into crypto as a method of payment. We are even getting interest from very old, very traditional companies that are constrained by centralized banking, needing an alternative to send and receive money faster.

Is there anything that has created a culture of change inside the company?

The biggest change we have seen is the level of infrastructure and systems we have put in place that have accelerated our profile in the mainstream press as well as the levels of conversations we are having with potential customers and partners. HOKK Finance went from a just a meme token to a DeFi player that meant people could begin to build trust in a brand, a team, and a long-term vision.

What fintech ideas have been implemented?

Our core focus has been developing financial products and services that empower people to send and spend their crypto. We have launched three products in January that represent the beginning of this, including HOKK NFTs, a collection of modular contract-based NFTs that generate yield in USDC the moment you mint one and can be upgraded in accordance with regulations; $TREATs, a governance token that can be used to make financial and technological decisions for HOKK once we launch our DAO; and HOKK Premium, an aggregator empowering anyone holding ETH or USDC to generate yield through DeFi platforms like AAVE.

What benefits have these brought?

We have been asked to give our opinions as experts in several major crypto and traditional financial outlets on topics such as crypto, NFTs, and the blockchain industry. The media is becoming more aware that we are a growing organisation in DeFi 2.0

Do you see any other industry challenges on the horizon?

More meme tokens will have to adapt to bringing real-world utility in order to survive. Many will fail, a handful will grow, and even less will dominate and be remembered.

Can these challenges be aided by fintech?

Yes, if more projects consider actually establishing an organisation that operates efficiently, with transparency, and builds problem-solving products, then fintech will drive more projects to do so.

Final thoughts…

Crypto payments centred around the easiest and quickest form of moving money will win this race. The technology just needs to solve a simple yet big problem for the merchant to receive money quicker, unlocking new opportunities for their own investment purposes. It does not have to be a complex solution, which I find many companies trying to build. We’re focused on building very simple fintech products that simply give users the opportunity to send and receive crypto the way they want to.

  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.