Nowadays, cross-border payments are no longer a strange concept to many users, especially when a series of applications in the financial industry have been born just to solve the above problem. From there, it creates a market where big names like PayPal or WSPN have solved this problem. So what is WSPN? Let's find out with Coin68 through the article below.
What is WSPN? Learn about cross-border payment solutions
What is WSPN?
WSPN (Worldwide Stablecoin Payment Network) is a company that provides secure, fast and efficient digital payment solutions globally by leveraging Distributed Ledger Technology (DTL). This will provide their customers with a seamless payment experience.
Distributed Ledger Technology (DTL) is a system created for the purpose of decentralized data storage. This means that information will be distributed and stored on many different servers and nodes . In order for a unit in the network to access information and authenticate it, DTL will verify the access rights of these units, thereby ensuring the integrity of the information.
In addition to integrating DTL, WSPN brings to the market a stablecoin called WUSD, which will be Peg to the USD to ensure transparency, stability, and efficiency in transactions. In addition, WUSD will also be backed by highly liquidation assets including cash, cash equivalents, and short-term treasury bills.
In addition to the above information, WSPN also raised more than 30 million USD through seed rounds from funds such as: Foresight Ventures, Folius Ventures, Hash Global, Generative Ventures, Yunqi Partners, Redpoint.
Applications of solutions from WSPN
Cross-Border Payment
WSPN’s Cross-Border Payment offers customers a secure, fast and low-cost money transfer solution through the use ofblockchain technology . In this way, transaction times will be significantly reduced and increase competitiveness compared to traditional bank-based services.
Web3 & Digital Asset Market
Leverage the full potential of DLT and Web3 applications to maintain the position of assets, thereby ensuring asset liquidation as well as combating inflation and the decline in purchasing power.
Merchant
WSPN Merchant feature will provide a payment system that can be customized according to the actual needs of customers. WSPN brings customers a practical solution and meets the real problems that customers face.
WSPN Products
WUSD
WUSD is a regulated and purpose-designed stablecoin for global payments with a 1:1 Peg to the USD.
WEUR
WEUR is a regulated and purpose-built stablecoin for global payments with a 1:1 Peg to the EUR.
StableWallet
StableWallet is designed to make stablecoins easy to use for many people. WSPN's StableWallet is an ERC-4337 Account Abstraction (AA) wallet that provides users with a seamless, secure, and scalable experience through pre-programmed smart contracts .
Summary
Above is all the information about WSPN and what this project is bringing to the market. Through the article, Coin68 hopes to give readers an overview of WSPN as well as the development potential of this project in the future.
Note: Coin68 is not responsible for any of your investment decisions. Wish you success and earn lots of profit from this potential market!
