WSPN Secures $30M Seed Funding, Former Visa President Joins Board

Singapore, August 29, 2024 - WSPN (Worldwide Stablecoin Payment Network), a leading provider of next-generation stablecoin infrastructure, has achieved a significant milestone in its mission to revolutionize the stablecoin market. The company has recently secured $30 million in seed funding , and appointed John Partridge , former President of Visa Inc., to its Board of Directors.

The seed funding round was led by Foresight Venture and Folius Ventures, with participation from prominent investors including Hash Global, Generative Ventures, Yunqi Partners, RedPoint China, and a consortium of top-tier investment companies, exchanges, and foundations.

The appointment of John Partridge to WSPN's board brings invaluable expertise to the company. With over two decades of experience in the fintech industry, Mr. Partridge is most recognized as President of Visa Inc. from 2009 to 2013. During his tenure, he played a pivotal role in Visa’s historic $19 billion IPO in 2008, which was the largest U.S. IPO at that time. Mr. Partridge's joining underscores the potential of WSPN's vision and adds significant credibility to the project.

In the rapidly evolving $180 billion stablecoin market, WSPN is introducing Stablecoin 2.0 through its flagship product, Worldwide USD (WUSD). This innovative approach aims to create a decentralized equivalent of Visa's trusted payment network, addressing current limitations such as high market concentration and narrow use cases. WSPN's Stablecoin 2.0 concept focuses on user-centric value distribution, community-driven governance, enhanced accessibility, and a comprehensive value ecosystem. This approach aims to expand stablecoin utility beyond trading and into broader payment scenarios.

The company distinguishes itself through its team of seasoned professionals with experience from CTH, Paxos, and Visa. WSPN has garnered support from over 30 exchanges, more than 10 major wallets, and dozens of prominent payment institutions and market makers.

"This substantial funding round and John's appointment to our board represent a transformative moment for WSPN," said Raymond Yuan, Founder and CEO of WSPN. "With this capital and John's deep expertise in global payments, we are well-positioned to accelerate the development of our Stablecoin 2.0 infrastructure and bring innovative, user-centric payment solutions to the market."

As WSPN advances its Stablecoin 2.0 initiative, it stands at the forefront of redefining digital currencies. By addressing current stablecoin limitations and introducing forward-thinking features, WSPN aims to unlock the full potential of digital assets in global finance, potentially reshaping how we perceive and use money in the digital age.

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to 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  

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