WadzPay Now Seeks License For Stablecoin Issuance
WadzPay, a fintech blockchain-based technology for virtual asset payment solutions, has announced its entry into the Stablecoin market. The company is believed to transition from virtual asset payments to blockchain financial services solutions providers, pursuing approvals in UAE, Hong Kong, and Singapore. WadzPay has been granted a license for crypto brokerage by Dubai’s virtual asset regulatory authority VARA.
WadzPay will introduce two main products: Stable Coin as a Service and its own regulated USD$ Stablecoin, designed for local and international payments, cross-border remittances, and settlements of on-chain transactions related to RWA.
Furthermore, the global market for stablecoins is projected to grow from $125 billion to almost $3 trillion in the next five years, driven by factors such as the rise of decentralized finance applications, cross-border remittances, and the need for stable digital assets to mitigate volatility risks in cryptocurrency markets.
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