WSPN Raises US$30 Million in Seed Funding to Build the Next Generation of Stablecoin Infrastructure

SINGAPORE, Aug. 16, 2024 /CNW/ -- WSPN (Worldwide Stablecoin Payment Network), a leading provider of next-generation stablecoin infrastructure, has raised US$30 million in Seed funding round. This round was led by Folius Ventures and Foresight Venture, with participation from prominent investors including Hash Global, Generative Ventures, RedPoint Capital, and a consortium of top-tier investment companies, exchanges and foundations.

SINGAPORE, Aug. 16, 2024 /CNW/ - WSPN (Worldwide Stablecoin Payment Network), a leading provider of next-generation stablecoin infrastructure, has announced today that it has closed on US$30 million in Seed funding. This round was led by Folius Ventures and Foresight Venture, with participation from prominent investors including Hash Global, Generative Ventures, RedPoint Capital, and a consortium of top-tier investment companies, exchanges and foundations.

This round of funding will be instrumental in advancing WSPN's mission to build a more secure, efficient, and transparent payment solution by working towards establishing a global framework and a new digital payment ecosystem. The company is also committed to providing users with a superior stablecoin experience, powered by its groundbreaking "Stablecoin 2.0" approach.

WSPN boasts a team of seasoned professionals with experience at industry leaders such as CTH, Paxos, and Visa (NYSE: V), bringing decades of combined expertise in payments and stablecoin operations. Further solidifying its position, WSPN has garnered support from over 30 exchanges, more than 10 major wallets, and dozens of prominent payment institutions and market makers. This robust foundation enables WSPN to confidently build a truly global digital payment network.

"This substantial capital injection will significantly accelerate our efforts to bring about the next generation of stablecoin infrastructure," said Raymond Yuan, Founder and CEO of WSPN. "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."

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure and licensed digital payments for Web3 users. WSPN's Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Learn more: www.wspn.io | X | LinkedIn

SOURCE WSPN

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