Digital payments company WSPN has entered into a partnership with Fireblocks to enhance the adoption of global digital payments and drive financial inclusion.
Fireblocks, an enterprise-grade platform specialising in secure infrastructure for handling digital assets, empowers various entities, including exchanges, custodians, banks, and hedge funds, to scale their digital asset operations securely through the Fireblocks Network and multi-party computation (MPC)-based Wallet Infrastructure.
The collaboration is said to represent a significant stride for WSPN in reshaping the global landscape of digital payments. It combines WSPN’s expertise in digital payments with Fireblocks’ enterprise-grade infrastructure, facilitating the issuance of World USD (WUSD), a USD-backed stablecoin, through Fireblocks’ Tokenisation Studio.
Additionally, WSPN will leverage Fireblocks’ Wallets-as-a-Service to ensure secure custody and streamline asset transfers, aiming to elevate its payments ecosystem with enhanced security and efficiency for managing digital assets.
WSPN founder and CEO Raymond Yuan said: “We are thrilled to embark on this journey with Fireblocks providing its battle-tested digital asset custody technology for our digital payment products, such as our innovative 1:1 USD-pegged stablecoin, WUSD.
“This collaboration perfectly aligns with our vision of establishing a robust, resilient and efficient payments infrastructure, ensuring transparency and the highest levels of compliance.”
According to the parties, their collaboration seeks to set new benchmarks in the industry, equipping businesses and individuals with advanced capabilities and unmatched security for managing digital assets.
Fireblocks APAC head and financial markets managing director Stephen Richardson said: “We are delighted to be working with WSPN to provide a seamless digital payment solution via their stablecoin product, WUSD.
“With stablecoins offering greater transparency and speed via reduced intermediation and 24/7 availability of the blockchain, this will inevitably lead to a more accessible and efficient global financial system and we look forward to supporting WSPN in enabling the future of finance.”