The 2024 SmartCon conference hosted by Chainlink recently concluded in Hong Kong, and as one of the top sponsors of the conference, the Southeast Asian cryptocurrency payment newcomer UU Wallet attracted significant attention.
UU Wallet was established in 2022, dedicated to solving issues such as limited usage scenarios and free exchange for businesses and individual users through innovative cryptocurrency payment solutions using various stablecoins. UU initially focused on the Southeast Asian market and has already acquired 500,000 users, aiming to become a leading cryptocurrency payment service provider in Asia and eventually globally.
UU Wallet currently has offices in Singapore, Hong Kong, and Manila, and has obtained exclusive qualifications for using virtual asset service licenses (VASP) and electronic payment licenses (EMI) in the Philippines. Additionally, it has received local OTC business compliance qualifications in several Southeast Asian countries and regions, including Malaysia, Singapore, and Hong Kong.
Based on compliance, UU Wallet has launched three core products to meet the usage needs of high-frequency users in different scenarios:
Lightning Transaction Service: Serves users engaged in cross-border remittances and large currency exchanges. For example, Filipino workers in the United States can quickly convert US dollars to Philippine pesos through this service, using stablecoin payment technology, saving on high fees and cumbersome confirmation processes.
UU Prepaid Card: Serves stablecoin customers who frequently make overseas purchases and local fiat currency spending. UU, in collaboration with VISA and Mastercard, covers 160 countries worldwide. Users can recharge stablecoins onto virtual or physical cards without frequent exchanges, enabling seamless spending in fiat currency while checking transaction records in real-time.
Third, Wallet-as-a-Service (WaaS): UU Wallet's WaaS solution is designed to empower businesses by providing secure management features for cryptocurrency, enabling them to efficiently and securely integrate digital payments in collection scenarios. Through the WaaS service, businesses can allow customers to make purchases directly with cryptocurrency without additional development, attracting more international users. For example, many foreign trade companies in the Philippine market are seamlessly implementing digital currency collection, settlement, and exchange through UU Wallet's WaaS system, enhancing the convenience of cross-border transactions and global business expansion capabilities.
In the next phase, UU Wallet will develop the functionality for personal self-custody wallets, further enriching the range of services. The new version of the overall product platform will officially launch in November. At that time, users will intuitively experience cryptocurrency payment features that are different from other wallets, providing a one-stop solution for convenient currency exchange and global consumption services.
In the new wave, with the rapid improvement of user education, UU Wallet will play an important role in the Southeast Asian and even global cryptocurrency market and hopes that more partners who combine compliance and innovation will join. Safety, compliance, and innovation open a new chapter in payments!