DeFi
WSPN and HELIX Unveil Partnership to Integrate TradFi and DeFi via RWA-Backed WUSD Stablecoin
TORTOLA, British Virgin Islands, July 22, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), the global leader in digital payments, and HELIX, a leading DeFi protocol for real-world assets (RWA), are excited to announce their partnership to explore a fiat-backed stablecoin backed by RWA assets. WSPN, known for its innovative digital payment solutions, is the issuer of Worldwide USD (WUSD), a fiat-backed stablecoin pegged 1:1 to the U.S. dollar.
This partnership integrates TradFi and DeFi, offering a robust and secure investment backed by real assets. The fiat-backed stablecoin will leverage HELIX’s RWA expertise and WSPN’s industry-leading stablecoin infrastructure to provide seamless, fast and efficient digital payment solutions.
The RWA tokenization market is experiencing significant growth. As of July 2024, total on-chain RWA is estimated to be around $12.9 billion, according to RWA.xyz. This growth is fueled by the increasing integration of blockchain technology into traditional finance, enabling greater liquidity, transferability, and efficiency in asset management. Major financial institutions such as BlackRock and Franklin Templeton have recognized the potential of RWA, with BlackRock launching a tokenized treasury fund, BUIDL, which has $500 million in assets under management, according to DefiLlama.
As part of this collaboration between WSPN and HELIX, HELIX will adopt WUSD as a transaction medium for its liquidity providers. Building on HELIX’s strong track record of private credit lending, WUSD is positioned as a robust RWA option in the stablecoin market. Additionally, HELIX’s institutional-grade platform reinforces WSPN’s commitment to providing digital payment solutions at institutional scale. WSPN and HELIX will also seek to promote financial inclusion through WUSD for underserved communities in emerging markets.
“WUSD represents the next generation of stablecoins, offering faster, cheaper, and more secure transactions compared to existing options. At WSPN, our primary goal is to improve the accessibility and use cases of WUSD. Our partnership with HELIX is an important step towards achieving this goal, as it allows us to expand financial inclusion in underserved regions of ASEAN,” said Raymond Yuan, Founder of WSPN.
Jitendra Singh Jaitawat, Co-Founder and CEO of HELIX, said, “At HELIX, our mission is to leverage data-driven risk management to connect on-chain investors to sustainable, uncorrelated real-world returns. We are excited to partner with WSPN, who shares our vision of building institutional infrastructure to integrate DeFi and TradFi ecosystems and enable financial inclusion at scale.”
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About WSPN
WSPN is a global digital payments company that provides seamless, fast and efficient digital payment solutions by leveraging the latest technological advancements in distributed ledger technology (“DLT”). We are committed to building seamless digital payment solutions for our global partners around the world, at the frontier of future digital payments and financial inclusion.
Worldwide USD (“WUSD”), WSPN’s flagship USD stablecoin, is a fiat-backed stablecoin pegged 1:1 to the U.S. dollar. Dedicated to powering payment solutions for web3 business users, WUSD empowers the real economy with secure and compliant digital payments spanning stablecoins, exchanges, and cards, all geared toward global expansion.
Learn more: www.wspn.io | Twitter | LinkedIn
About HELIX
HELIX is the first real-world asset (RWA) DeFi protocol leveraging proprietary big-data credit analytics technology to tokenize private credit from emerging markets. Winner of the 2023 Tokenized Debt & Digitized Securities Award, HELIX aims to aggregate a diverse range of real-world assets, including private credit, to provide on-chain investors with access to sustainable yields that are uncorrelated to broader DeFi markets.
Learn more: www.helixfinance.io | Twitter | LinkedIn
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