Crypto News Today: PharmaTrace Raises 300K HBAR for Next-Gen Drug Tracking

The post Crypto News Today: PharmaTrace Raises 300K HBAR for Next-Gen Drug Tracking appeared first on Coinpedia Fintech News

PharmaTrace has been awarded 300,000 HBAR in funding through the Thrive Hedera program to support the development of what the company describes as a regulated Decentralized Physical Infrastructure Network (DePIN) for pharmaceutical supply chains. 

Transition Toward a Public-Permissioned Model

PharmaTrace currently operates its track-and-trace system on Hyperledger Fabric, offering serialization and compliance tools for pharmaceutical and healthcare clients. According to the company, the new funding will assist in its transition from a private, permissioned ledger to a public-permissioned architecture built on Hedera.

The shift aims to enable broader interoperability while maintaining privacy for sensitive business data. Public verification of supply chain events is expected to be a core function of the upgraded network.

Hedera’s Role in the Migration

Hedera’s hashgraph technology will be used to support several components of the planned system. PharmaTrace intends to utilize the Hedera Token Service (HTS) to represent serialized products and the Hedera Consensus Service (HCS) to record verifiable event logs originating from its existing Fabric infrastructure.

Mirror nodes on Hedera will allow regulators and authorized parties to independently validate certain supply chain events without accessing confidential systems.

Positioning Within the Track-and-Trace Landscape

PharmaTrace’s approach places it alongside other serialization and traceability providers such as TraceLink, Optel, MediLedger, and VeChain. The company states that its hybrid model is designed to introduce a public audit layer without requiring clients to redesign their internal compliance workflows.

Token Plans and Ecosystem Participation

PharmaTrace has also outlined plans for a utility token intended for operational use within its network. The token is expected to be tied to reporting accuracy, platform access, and future governance functions.

In addition, the company plans to contribute development resources, documentation, and integration frameworks to the wider Hedera ecosystem, particularly in areas involving regulated supply chains.