Singapore-based stablecoin infrastructure startup WSPN companions with Polygon Labs to scale WUSD stablecoin use in funds in decentralized finance.
Worldwide Stablecoin Fee Community — often known as WSPN — has joined forces with Polygon Labs, the agency behind the Polygon blockchain, to broaden the adoption of WSPN’s flagship stablecoin, WUSD. The strategic collaboration, introduced in a Nov. 22 press launch, goals to drive using the stablecoin throughout rising markets.
Though particular particulars of the partnership stay undisclosed, WSPN highlighted a number of key focus areas within the initiative, together with “facilitating payments and tokenization solutions for companies operating in Hong Kong SAR and Singapore, developing on-chain green finance projects tailored for African clients, and building robust defi platforms that leverage the strengths of both WSPN and Polygon technologies,” per the press launch.
WSPN seeks new markets with Polygon as liquidity associate
The collaboration comes a number of months after WSPN secured $30 million in seed funding spherical led by Foresight Enterprise and Folius Ventures, to advance its “Stablecoin 2.0” mission. The funding, supported by over 30 cryptocurrency exchanges and a variety of cost establishments, goals to bolster WSPN’s stablecoin choices and governance token initiatives.
WSPN, based by former Visa and Paxos staff, has additionally been advancing its governance token framework to allow on-chain voting and community-driven decision-making. The agency’s flagship stablecoins, WUSD and WEUR, are backed by money, money equivalents, and short-term Treasury payments, in accordance with its web site.
