Worldwide Stablecoin Payment Network (WSPN), a next-generation stablecoin infrastructure provider, has secured $30m in a seed funding round to transform the future of digital payments.
The financing round was led by Folius Ventures and Foresight Venture.
It also had participation from other investors, including Hash Global, Generative Ventures, RedPoint Capital, and a consortium of investment firms, exchanges, and foundations.
According to WSPN, its Stablecoin 2.0 sets a new standard for the next generation of stablecoins. The firm intends to design and develop infrastructure that embodies the principles of Web3, by focusing on robustness and transparency of stablecoin systems.
WSPN plans to introduce its own governance token, enabling users to share in the long-term value of the ecosystem and have a direct influence on its development.
The company will also implement on-chain voting, empowering token holders to participate in key decision-making processes.
Furthermore, it will simplify user interfaces and reduce entry barriers, making stablecoin usage more accessible to individuals and institutions alike.
WSPN is also committed to developing a broad range of products and use cases, from asset management to everyday transactions.
WSPN founder and CEO Raymond Yuan said: “This substantial capital injection will significantly accelerate our efforts to bring about the next generation of stablecoin infrastructure.
“We are excited to collaborate with our esteemed investors to build a more robust, transparent, and user-centric stablecoin ecosystem that can power the future of finance.”
Based in Singapore, WSPN offers next-generation stablecoin infrastructure to build a more secure, efficient, and transparent payment solution for the global economy. The firm’s flagship product WUSD stablecoin aims to optimise secure and licensed digital payments for Web3 users.
WSPN ‘s Stablecoin 2.0 approach prioritises user-centricity, community governance, and accessibility.
The company has gained the support of more than 30 exchanges, over 10 major wallets, and numerous prominent payment institutions and market makers.
