WadzPay Ventures into Stablecoin Market, Names Jason Sarria-Solis as President

WadzPay, a Singapore-based fintech company, has announced its expansion into the stablecoin business, marking a significant move to capitalize on the growing opportunities within the virtual asset financial services space. The company has appointed Jason Sarria-Solis as President – Emerging & New Business to lead this strategic initiative.

Why this matters: The growth of the stablecoin market has the potential to transform the payment and transaction process, offering a more stable and reliable alternative to traditional cryptocurrencies. With the market expected to expand significantly in the coming years, WadzPay's entry into this space could have a profound impact on the The growth of the stablecoin market has the potential to transform the payment and transaction process, offering a more stable and reliable alternative to traditional cryptocurrencies. With the market poised for significant expansion in the coming years, WadzPay's entry into this space could have a profound impact on theglobal financial landscape.

As part of its foray into stablecoins, WadzPay plans to introduce two main products: Stable Coin as a Service and its own regulated USD$ Stablecoin. These offerings are designed to facilitate local and international payments, cross-border remittances, and settlements of on-chain transactions related to real-world assets (RWA). The company will pursue regulatory approvals in key markets including the UAE, Hong Kong, and Singapore to ensure compliance.

The global stablecoin market is on the verge of significant growth in the coming years. Recent market research by Bernstein projects the market to expand from $125 billion to almost $3 trillion in the next five years. This staggering growth potential highlights the increasing demand for stable digital assets that offer the benefits of blockchain technology while mitigating the volatility associated with traditional cryptocurrencies.

Anish Jain, Founder & Group CEO of WadzPay, emphasized the company's commitment to innovation, stating,"Our entry into the stablecoin business reflects our dedication to meeting the evolving needs of our customers and staying at the forefront of technological innovation. "This strategic move aligns with WadzPay's mission to drive financial inclusion and transform the virtual asset financial services industry."

To spearhead the stablecoin initiative, WadzPay has appointed Jason Sarria-Solis, who brings over 20 years of experience in the technology and fintech industry to his new role as President – Emerging & New Business. Expressing his enthusiasm, Sarria-Solis stated, "I am thrilled to join WadzPay at such a critical moment in the company's development. The stablecoin market presents immense opportunities for disruption and advancement in the payments, remittance, and on-chain settlement space."

Founded in 2018 in Singapore, WadzPay has established itself as a leading global blockchain-based technology provider for virtual assets. The company operates across geographies spanning Asia Pacific, the Middle East, Africa, Europe, and the Americas. With its expansion into the stablecoin business, WadzPay aims to provide users with a reliable alternative to traditional fiat currencies, offering stability, convenience, and speed at lower costs.

As WadzPay embarks on this new venture, the company remains committed to maintaining the highest standards of regulatory compliance. It will set up a new entity and build a world-class team under the leadership of Jason Sarria-Solis to ensure adherence to regulatory requirements in the targeted markets.

The expansion into the stablecoin business marks a significant milestone for WadzPay and highlights the company's dedication to driving innovation in the rapidly evolving virtual asset financial services sector. With its robust technology infrastructure, regulatory focus, and experienced leadership team, WadzPay is well-positioned to capitalize on the immense potential of stablecoins and shape the future ofdigital payments and settlements.

Key Takeaways

• WadzPay expands into stablecoin business, appointing Jason Sarria-Solis as President.
• Stablecoin market expected to grow from $125B to $3T in 5 years.
• WadzPay to introduce Stable Coin as a Service and regulated USD$ Stablecoin.
• Company to pursue regulatory approvals in UAE, Hong Kong, and Singapore.
• WadzPay aims to provide users with a reliable alternative to traditional fiat currencies.