TORTOLA, British Virgin Islands, June 18, 2024 /PRNewswire/ -- WSPN, a globally recognized digital payments leader, has announced a milestone collaboration with DigiFT, the first regulated exchange for on-chain real-world assets ("RWA"), approved as a Recognised Market Operator with a Capital Markets Services license by the Monetary Authority of Singapore. This strategic partnership underscores a mutual commitment to advancing stablecoin applications and pioneering Web3 payment and investment solutions globally.
Through this partnership, WSPN's flagship USD-pegged stablecoin, the Worldwide USD (WUSD), will be integrated into DigiFT's exchange. As the first regulated exchange for on-chain RWA, the integration of WUSD will enhance user convenience and efficiency for DigiFT while providing the WUSD ecosystem access to regulatory-compliant investment products at the same time.
"Partnering with DigiFT, a pioneer in the regulated on-chain real-world asset market, is an exciting development for us, "remarked Raymond Yuan, Founder of WSPN, "This collaboration marks a significant step forward in our mission to integrate stablecoin applications with innovative investment solutions. By leveraging DigiFT's regulatory-compliant platform, we aim to enhance the efficiency and security of digital payments while broadening access to transparent and robust investment opportunities globally."
WSPN recently announced a series of WUSD achievements, including the successful listing on 10 new exchanges, the integration with two new chains, Solana and BSC, and 2 well-known wallet partners, to enhance WUSD's accessibility and liquidity.
Henry Zhang, CEO and Founder of DigiFT said, "Creating a platform that connects the illiquid and fragmented world of traditional finance has been core to our mission at DigiFT. We are thrilled to be partnering with WSPN, who shares a mutual commitment in forging a more interconnected and efficient financial ecosystem on-chain. This strategic partnership aims to herald a new era of innovation and adoption of RWA within the digital payments landscape."
Most recently, DigiFT announced the launch of its depositary receipts (DR) token issuance model, enabling investors to purchase tokens representing a fractional beneficial interest in the underlying capital market security. As part of the collaboration, a portion of WSPN's reserves will be allocated to DigiFT's RWA tokens. This move allows WSPN to leverage DigiFT's innovative DR model to enhance asset management, security, and transparency.
WSPN is a global digital payments company that provides digital payment solutions via Distributed Ledger Technology (DLT). The WUSD is a fiat-collateralized stablecoin designed to provide transparent, fast, and efficient digital payment solutions globally, leveraging advanced Distributed Ledger Technology.
Established in 2021, DigiFT is the first and only on-chain RWA exchange with an automatic market-making mechanism approved as a Recognised Market Operator with a Capital Markets Services license by the Monetary Authority of Singapore (MAS).
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About WSPN
WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology ("DLT"). We are dedicated to shaping seamless digital payment solutions for our global partners worldwide at the frontier of future digital payments and financial inclusion.
Worldwide USD ('WUSD'), WSPN's flagship USD stablecoin, is a fiat-collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. Dedicated to optimizing payment solutions for web3 users, WUSD empowers the real economy through secure, transparent, and licensed digital payments, spanning stablecoins, exchanges and cards, all geared for global expansion.
Learn more: www.wspn.io | Twitter | LinkedIn | Telegram
About DigiFT
DigiFT is the first regulated exchange for on-chain real-world assets, approved as a Recognised Market Operator with a Capital Markets Services license by the Monetary Authority of Singapore. DigiFT allows asset owners to issue blockchain-based security tokens and investors can trade with continuous liquidity via an Automated Market Maker (AMM).
Established in Singapore in 2021, DigiFT is fully committed to meeting regulatory requirements to operate in the capital markets space in Singapore, while providing innovative financial solutions that push the boundaries of financial services in a responsible manner.
DigiFT's founding team comprises executives who have held positions within the finance and fintech worlds at Citi, Standard Chartered, Morgan Stanley, Shenzhen Stock Exchange and possess deep blockchain technology knowledge, having successfully developed digital asset exchange and products in the past.
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