WSPN raises $30m in Seed round to drive the future of digital payments

By Gloria Mathias

WSPN (Worldwide Stablecoin Payment Network), a provider of next-generation stablecoin infrastructure, has raised $30 million in a seed funding round.

This round was led by Folius Ventures and Foresight Venture. It witnessed participation from prominent investors, including Hash Global, Generative Ventures, RedPoint Capital, and a consortium of investment companies, exchanges and foundations.

WSPN is building a more secure, efficient, and transparent payment solution by working towards establishing a global framework and a new digital payment ecosystem. The company is committed to providing users with a superior stablecoin experience powered by its “Stablecoin 2.0” approach.

WSPN, with the concept of Stablecoin 2.0, is setting the new standard for the next generation of stablecoins. The company’s mission extends beyond creating a stable digital currency; it aims to design and develop infrastructure that embodies the essence of Web3, with a focus on enhancing the robustness and transparency of stablecoin systems.

WSPN is building Stablecoin 2.0 as follows:

• User-Centric Value Distribution: WSPN plans to introduce its own governance token, allowing users to share in the ecosystem’s long-term value and directly influence its development trajectory. This would embody the “From the People, For the People” principle.
• Community-Driven Governance: WSPN will adopt on-chain voting, empowering token holders to participate in key decision-making processes. This ensures the ecosystem remains transparent, accountable, and responsive to its users, with decisions and asset verifications transparently recorded on the blockchain.
• Enhanced Accessibility and Payment System Upgrade: WSPN aims to streamline user interfaces and reduce entry barriers, making stablecoin usage more accessible to both individuals and institutions. This approach not only drives mainstream adoption but also seeks to upgrade existing electronic payment and settlement systems.
• Comprehensive Value Ecosystem: WSPN is committed to developing a wide range of products and use cases, from asset management to everyday transactions, unlocking the full potential of stablecoins for users globally.

“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.”