Welcomes Jason Sarria-Solis to lead the venture. Reporting to Jason will be the Business Line Product Head, Mr. Dinesh Kr
WadzPay plans to expand portfolio to stablecoin business
SINGAPORE, May 03, 2024 (GLOBE NEWSWIRE) — WadzPay, a leading fintech company specializing in blockchain-based technology for virtual asset payment solutions, is proud to announce its plan to enter the Stablecoin business, marking a significant expansion of your offers. With a constant commitment to innovation and meeting growing market demands, the company has strategically positioned itself to capitalize on growing opportunities in the virtual asset financial services space.
This also marks a shift in Wadzpay’s strategy of moving from a blockchain-based virtual asset payments company to a blockchain financial services solutions provider. The decision to venture into the Stablecoin market comes as a response to the growing demand for secure, transparent and efficient digital payment solutions around the world.
According to recent market research by Bernstein, the global stablecoin market is expected to grow from $125 billion to nearly $3 trillion in the next 5 years. This growth is fueled by factors such as the rise of decentralized finance (DeFi) applications, cross-border remittances and the need for stable digital assets to mitigate the risks of volatility in cryptocurrency markets.
By leveraging blockchain technology, WadzPay aims to provide users with a trusted alternative to traditional fiat currencies, offering stability, convenience and speed at lower transaction costs for merchants, businesses and individuals around the world. With a focus on compliance and regulations, WadzPay is prepared to meet the growing demand for stablecoins while ensuring security and regulatory compliance in its operations. In addition to traditional use cases, WadzPay will add some new and innovative uses of stablecoins to the mix.
WadzPay will introduce two main products: Stable Coin as a Service and its own USD$ regulated Stablecoin designed for local and international payments, cross-border remittances and RWA-related on-chain transaction settlements.
The new solutions will be organized as a new business and a new brand. To ensure regulatory compliance, WadzPay will create a new entity and seek approvals in the UAE, Hong Kong and Singapore.
With this strategic move, WadzPay intends to innovate in solving exchange rate problems and will introduce an innovative and pioneering business model in the market, differentiating itself from competitors. WadzPay will build a world-class team under new leadership to drive this business forward.
Founder and CEO of WadzPay Group, Mr. Anish Jainemphasized the strategic importance of this expansion, stating: “Our entry into the stablecoin business reflects our dedication to meeting the evolving needs of our customers and remaining at the forefront of technological innovation. With the growing adoption of virtual assets, especially stablecoins, we see a huge growth potential and we are excited to offer our expertise in this space while remaining committed to compliance and regulations.”
To lead this strategic initiative, WadzPay is pleased to welcome Mr. Jason Sarria-Solis as President – New and Emerging Businesses responsible for the stablecoin business. With over 20 years of experience in the technology and fintech sector, Mr. Jason brings a wealth of knowledge and a proven track record of driving business growth and innovation. He has led numerous 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, Mr. Jason Sarria-Solis expressed his excitement, stating: “I am thrilled to be joining WadzPay at such a pivotal time in the company’s journey. The stablecoin market presents immense opportunities for disruption and advancement in payments, remittances, and on-chain settlement space, and I look forward to leading our team in delivering innovative solutions that meet the needs of our users and drive the 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 a significant milestone in this journey. 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 2018 in Singapore with a commitment to promoting financial inclusion and revolutionizing the virtual asset financial services landscape. It is a leading global provider of blockchain-based technology for virtual assets. The company’s innovative platform, available as a SaaS offering, offers safe, efficient and transparent technological solutions, serving companies (B2B) and consumers (B2B2C). WadzPay works with large international companies, banks and fintechs to enable processing, custody and settlement of transactions based on virtual assets. It operates in geographic regions spanning Asia-Pacific, the Middle East, Africa, Europe and the Americas.
For more information, visit www.wadzpay.com
Media contact
Arijit Das
Public Relations and Communications
arijit.das@wadzpay.com
+919654930523
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