We welcome Jason Sarria-Solis to lead the venture. Jason will report to Dinesh Kr, head of product for the business line.
WadzPay plans to expand portfolio into stablecoin business
SINGAPORE, May 3, 2024 (GLOBE NEWSWIRE) — WadzPay, a leading fintech company specializing in blockchain-based technology for virtual asset payment solutions, has announced plans to enter the stablecoin business and We are proud of the significant expansion of our services. The company is strategically positioned to take advantage of the growing opportunities in the virtual asset financial services space due to its strong commitment to innovation and responsiveness to evolving market demands.
This also marks a shift in Wadzpay's strategy to evolve from a blockchain-based virtual asset payment company to a blockchain financial services solution provider. The decision to enter the stablecoin market is in response to the growing demand for secure, transparent and efficient digital payment solutions around the world.
According to a recent market study by Bernstein, the global market for stablecoins is expected to grow from $125 billion to nearly $3 trillion over the next five years. This growth is being driven by factors such as the rise of decentralized finance (DeFi) applications, cross-border remittances, and the need for stable digital assets to reduce volatility risks in the crypto market.
By leveraging blockchain technology, WadzPay provides users with a reliable alternative to traditional fiat currencies, providing stability, convenience, and speed in transactions for merchants, businesses, and individuals around the world at a lower cost. We aim to do so. With a focus on compliance and regulation, WadzPay is poised to meet the growing demand for stablecoins while ensuring operational security and regulatory compliance. Apart from traditional use cases, WadzPay adds some new and innovative uses of stablecoins to the mix.
WadzPay introduces two major products. One is a stablecoin-as-a-service, and the other is a uniquely regulated his USD $ It's a stablecoin.
New solutions will be organized as new businesses and new brands. To ensure regulatory compliance, WadzPay will establish a new entity and seek approval in the UAE, Hong Kong and Singapore.
With this strategic move, WadzPay aims to innovate in solving currency issues and introduces an innovative market-leading business model to differentiate itself from its competitors. WadzPay is building a world-class team under new leadership to drive this business forward.
Anish Jain, Founder and Group CEO of WadzPay“Our entry into the stablecoin business reflects our dedication to meeting the evolving needs of our customers and staying at the forefront of technological innovation. “As the coin's adoption continues to grow, we underlined the strategic importance of this expansion.” We see great potential for growth and are excited to offer our expertise in this area while remaining compliant and regulatory. ”
We are happy to welcome WadzPay to lead this strategic initiative. Jason Sarria Solis appointed as president – Emerging/new businesses In charge of stable coin business. With over 20 years of experience in the technology and fintech industry, Jason brings a wealth of knowledge and a proven track record of driving business growth and innovation. He has led multiple projects ranging from founding and scaling a successful telecommunications startup in the UK to leading digital banking, embedded finance and blockchain projects in Asia.
Commenting on his appointment, Jason Sarria Solis said, “I am excited to join WadzPay at such a pivotal time in the company’s journey. “It offers tremendous opportunities for progress and progress.'' I look forward to leading the team to deliver innovative solutions that meet our users' needs and drive our company's growth. ”
WadzPay remains committed to its mission of revolutionizing the virtual asset financial services landscape with blockchain technology, and the expansion into the stablecoin business marks an important milestone in this effort. With a focus on technological excellence, customer satisfaction, and strategic partnerships, the company is poised to emerge as a key player in the financial services ecosystem.
About WadzPay:
WadzPay was founded in Singapore in 2018 with the aim of promoting financial inclusion and revolutionizing the crypto financial services environment. The company is the world's leading provider of blockchain-based technology for virtual assets. The company's innovative platform, available as a SaaS product, provides secure, efficient, and transparent technology solutions for businesses (B2B) and consumers (B2B2C). WadzPay works with leading international corporations, banks, and fintechs to enable virtual asset-based transaction processing, storage, and settlement. The company operates across Asia Pacific, the Middle East, Africa, Europe, and the Americas.
For more information, please visit www.wadzpay.com.
media contact
Arijit Das
PR and communication
arijit.das@wadzpay.com
+919654930523
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/31287a08-4771-465f-8c63-595aa0259016.
