While browsing the Web site for Higan, I found this:

Commercial Licenses Issued
Hyperkin is the sole licensee of higan at this time. No other company holds a paid license at this time.
So if you've ever wondered why the Hyperkin devices handled NES, SNES, GB, GBC, and GBA games the way they do, this is your answer.

...It's too bad, though: Higan also supports the WonderSwan and the WonderSwan Color but there's nothing which I know of that's being sold utilizing that capability. Some hardware, especially an officially licensed one, loaded with WonderSwan games would be much more interesting to me than yet another Nintendo or SEGA inspired "console." Granted, Nintendo and SEGA are more marketable than WonderSwan, but while I've seen many of those, any new WonderSwan hardware would be much more rare.

Source: https://byuu.org/emulation/higan/licensing/