Leading financial technology (fintech) company focused on blockchain technology for virtual asset payment solutions, WadzPay, has announced its plans to enter the stablecoin business.

 

The move is a significant expansion in their portfolio and reflects their strong commitment to innovation and meeting the growing demand of the crypto market.

 

To know more about what WadzPay is, from its features, its strategic move into the stablecoin business, to its innovation and leadership in the stablecoin market, check out the full review below.

 

 

What is WadzPay?

 

WadzPay is an interoperable and agnostic blockchain-based payment technology provider, available as a Software-as-a-Service platform. The company was founded in 2018 in Singapore and currently operates globally in Asia, the Pacific, the Middle East, Africa, Europe, and the United States.

 

WadzPay aims to optimize the potential of Central Bank Digital Currency CBDC and digital assets to revolutionize the payments industry by enabling faster payments, increased security and cost efficiency with a wide range of options.

 

WadzPay is a business-to-business (B2B) technology enabler currently working with major international payment companies, banks and global corporations to enable digital asset-based transaction processing and settlement.

 

Features of WadzPay 2.0

 

WadzPay 2.0 offers several integration options and outstanding features such as the following, among others:

 

• Know Your Customer (KYC) solution with biometric verification for user onboarding
• Real-time fraud detection, customer screening, and transaction monitoring
• Multisignature custodial wallet with multi-level hierarchy and password management
• Internal and external wallet transfers
• Push/pull payment options with transaction notifications
• Custom reports in multiple formats
• Issuer and merchant dashboards with seven-layer hierarchical control
• Multi-currency acceptance at POS terminals and e-commerce portals with QR code suppor
• Settlement in digital or fiat currency of choice, based on market regulations
• On-chain refunds, including multiple refunds on a single transaction
• Built-in volatility management solution
• Enhanced transaction speed on Ethereum and Bitcoin blockchains

 

WadzPay 2.0 is modular and configurable, designed to adapt to various regulatory, licensing and banking requirements in different jurisdictions while complying with guidelines such as KYC, Know Your Business, Know Your Transactions, custodial services, restrictions and other controls.

 

As for all current and future customers, they will get access to the signature features of WadzPay 2.0.

 

Strategic Move into Stablecoin Business

 

This move represents a shift in WadzPay’s strategy, from a company focused on blockchain-based virtual asset payments to a provider of blockchain-based financial solutions.

 

The decision to enter the stablecoin market was driven by the growing global demand for secure, transparent and efficient digital payment solutions.

 

Market research by Bernstein forecasts the global stablecoin market to grow from $125 million to nearly $3 million million in the next 5 years.

 

This growth is driven by factors such as the rise of decentralized finance (DeFi) applications, cross-border remittances, and the need for stable digital assets to reduce the risk of volatility in the crypto asset market.

 

Stablecoins: The Solution to Foreign Exchange Problems

 

By utilizing blockchain technology, WadzPay seeks to provide a reliable alternative to traditional fiat currencies. Stablecoin offer stability, convenience and transaction speed at a lower cost to merchants, businesses and individuals around the world.

 

WadzPay will launch two main products, Stable Coin as a Service and their proprietary USD$ Stablecoin, designed for local and international payments, cross-border remittances, and settlement of on-chain transactions tied to real-world assets (RWAs).

 

The new solution will be organized as a new entity and brand. To ensure regulatory compliance, WadzPay will establish new entities and seek approvals in the UAE, Hong Kong, and Singapore.

 

 

Innovation and Leadership in the Stablecoin Market

 

Through the strategic move, WadzPay aims to address foreign exchange issues through innovation and will introduce a new business model that is first in its market, setting it apart from competitors.

 

In addition, WadzPay will build a world-class team under new leadership to grow the business. Jason Sarria-Solis, President of New and Emerging Business at WadzPay, expressed his excitement in this regard.

 

“I’m excited to join WadzPay at this pivotal moment in the company’s journey. The stablecoin market presents a huge opportunity for disruption and progress in the payments, remittance, and on-chain settlement spaces. I look forward to leading our team in delivering innovative solutions that meet the needs of our users and drive company growth,” said Jason Sarria-Solis.

 

Conclusion

 

In conclusion, WadzPay is committed to revolutionizing the virtual asset financial services landscape by leveraging blockchain technology.

 

Through strategic and innovative measures, WadzPay also strives to provide more secure, efficient, and transparent payment solutions.

 

The company’s focus on technological excellence, customer satisfaction, and strategic partnerships are the main pillars in achieving its goals.

 

On the other hand, WadzPay also continues to innovate to meet the needs of the growing market and maintain its position as a leader in the blockchain-based digital payment industry.

 

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FAQ

 

1. What is WadPay?

 

WadzPay is a leading fintech company that focuses on blockchain technology for virtual asset payment solutions. They provide advanced features, such as E-KYC solutions, real-time fraud detection, and multi-signature custodial wallets within the WadzPay 2.0 platform.

 

2. Why did WadzPay decide to enter the Stablecoin market?

 

WadzPay sees the growing demand for secure, transparent and efficient digital payment solutions worldwide as the reason behind their decision to enter the Stablecoin market, as a strategic step in their changing business strategy.

 

3. What are the main benefits of using Stablecoins for merchants and businesses?

 

Stablecoins offer stability, convenience, and transaction speed at a lower cost than traditional fiat currencies thus providing merchants and businesses with a reliable alternative in local and international payments, cross-border remittances, and settlement of on-chain transactions related to RWA.

 

4. How does WadzPay plan to differentiate itself in the Stablecoin market?

 

WadzPay plans to innovate in solving foreign exchange problems and differentiate itself from competitors by introducing market-first innovative business models and building a world-class team under new leadership to drive the business.

 

5. What is WadzPay’s plan to ensure regulatory compliance in various jurisdictions?

 

WadzPay will establish new entities and pursue approvals in the UAE, Hong Kong, and Singapore to ensure regulatory compliance. They will also adapt WadzPay 2.0 to comply with various regulations, licensing, and banking requirements in various jurisdictions.