On September 12, 2018, TD Bank Group revealed that they have made a commercial licensing agreement with the Hydrogen Technology Corporation to bring automated, digital investing solutions to TD clients.
The Hydrogen Technology Corporation, more simply known as Hydrogen, is a fintech project with an ambitious goal: to become the world’s top global financial platform for the Web 3.0. They are working towards creating a new digital economy that will ultimately bring fintech to the masses—and they just made another giant leap towards this goal by partnering with one of the largest banks in North America, and the largest in Canada.
TD Bank Group serves over 25 million customers and holds more than $1.3 trillion CDN in assets. Their new agreement with Hydrogen means their millions of customers will soon have access to a complete, end-to-end digital investing experience.
By integrating Hydrogen’s Application Programming Interfaces (APIs) into TD’s WebBroker platform, TD Direct Investing clients will be able to build their own financial plans and portfolios, and track their progress against personal financial goals.
In the press release, TD Bank Group Vice President Tony Ierullo stated:
This is the first of several significant building blocks that will deliver a fully integrated, digital investing experience for TD clients.
As the 2 companies work together, they plan to roll out more fintech features for TD Bank customers, including direct access to digital advisors and even artificial intelligence features, including parts of Hydrogen’s Web 3.0 offering. More details about these added features will become available sometime down the line, as adoption of Hydrogen’s technology increases among TD Bank clients.
Hydrogen was founded by twin brothers Michael and Matthew Kane, who both have extensive backgrounds in the financial and fintech industries.
Before founding Hydrogen, the brothers founded Hedgeable, an inclusive investment management platform that allows anyone, no matter how much money they have, to be able to make investments, as the minimum account size is set to only US$1. Hedgeable was included in providing the keynote at Citi Bank’s Asset Management Conference in 2015 alongside top executives from TD Ameritrade, NASDAQ, and Fidelity.
Following their massive success with Hedgeable, the Kane brothers then founded Hydrogen, which has been growing exponentially ever since. In 2018, Hydrogen won prestigious “Startup of the Year” and “Innovator in Finance” awards from fintech groups KPMG and FiNext, respectively.
Hydrogen’s long list of partners include 3 financial giants that manage over US$2 trillion in assets—TD Bank Group, Principal Financial, and CI Investments.
Hydrogen released their app in July 2018. The first feature offered, dubbed Raindrop, uses the Ethereum blockchain and enables 2-factor identity authentication to protect users against phishing and hacking of accounts, transactions, crypto wallets, and more.
In Q4 2018, the Hydrogen team is working on integrating identity management, document signing, and p2p payments onto the app as well.
Hydrogen’s app release makes the project one of the few blockchain platforms with a working product—in fact, only 36 of the top 100 blockchain projects have working products, making Hydrogen way ahead of the game from most of the competition.