Fintech PR
Stablecoin 2.0: The Blueprint for Global Digital Economy
Author: Raymond Yuan
SINGAPORE, Aug. 13, 2024 /PRNewswire/ — Stablecoins have been in existence for over a decade, but their prominence surged after 2017 when governments worldwide started restricting or even shutting down fiat-to-Bitcoin trading channels. Since then, stablecoins have consistently acted as a crucial bridge between fiat currencies and cryptocurrencies. Today, with daily trading volumes approaching $100 billion, stablecoin pairs make up over 80% of the market’s activity, far outpacing fiat-to-crypto trading volumes.
As the benefits of stablecoins—like anonymous transfers, low transaction fees, rapid processing, irreversibility, and 24/7 global peer-to-peer transactions—become more widely recognized, these digital assets are increasingly being integrated into everyday payment scenarios, broadening their range of use cases. However, despite these advancements, the stablecoin products available today still face several critical limitations that impede their growth and broader adoption.
The Stablecoin Conundrum: Tackling Key Challenges
- Lack of User Incentives: Most leading stablecoins in the market today offer little to no incentives for users, with issuers and operators capturing all the profits. Consequently, when customers hold funds in stablecoins, they miss out on earning basic, risk-free returns. During periods of high interest rates and subdued market activity, users are less inclined to retain stablecoins, resulting in significant outflows. While users can generate returns by lending stablecoins or engaging in high-risk investments, they must assume additional risk to do so. To sustain stablecoin circulation growth and compete effectively with traditional payment wallets and demand deposits, there must be enhanced incentives to retain customers and foster loyalty.
- Lack of Community Governance and Transparency: As a blockchain-based product within the Web3 ecosystem, stablecoins should more closely adhere to the fundamental principles of this space—specifically by introducing community governance and utilizing on-chain asset proofs to increase transparency. Currently, the success of stablecoins is largely dependent on the integrity, discipline, and decision-making of the management team. However, without community governance, this control remains highly centralized, leaving the management team vulnerable to the temptation of pursuing higher returns by taking on excessive risks. Moreover, relying on traditional auditing firms for verification is inconsistent with Web3 principles. Many large-scale financial collapses have been caused by the failures of conventional auditing practices. In the digital future, trust must be grounded in the reliability of technology and established rules, rather than the ethics of individuals or institutions.
- Lack of User-Friendly Interfaces and Convenient Access to Funds: A straightforward street survey of 100 adults on their use of cash, bank cards, mobile payments, and stablecoins would likely show that stablecoin payments are still in their early stages. Despite their growth, stablecoins have a relatively small user base compared to traditional payment methods, and their adoption remains limited. Many potential users are unaware of how to easily and affordably acquire and redeem stablecoins. To advance stablecoin payments, expanding the user base is crucial. Currently, most stablecoin transactions rely on over-the-counter (OTC) trades, which not only facilitate fraud but also restrict legitimate use. For stablecoins to succeed, they need to establish more accessible distribution and exchange channels. This underscores the need for improved education and more efficient infrastructure.
- Lack of Diversified Product Lines, Use Cases, and Value Ecosystems: Most stablecoins today are limited to a single product line, and many do not provide their own wallets. This creates challenges for new users, who must navigate issues such as seeds, gas fees, and cross-chain transactions. Institutional users face additional hurdles, including inadequate support for stablecoin custody and internal transfer approvals, which often forces them to build their own infrastructure from scratch. Furthermore, the lack of diverse use cases means that many users see stablecoins primarily as a medium for value transfer, rather than holding them long-term. This results in a really short value chain, requiring frequent switching between stablecoins and fiat currencies to meet various needs. A more robust value ecosystem is essential to address these issues and support sustained use and adoption.
WSPN: Crafting Stablecoin 2.0
WSPN (Worldwide Stablecoin Payment Network) is at the forefront of crafting Stablecoin 2.0, setting the standard for the next generation of stablecoins. Our mission is to design and develop infrastructure that embodies the essence of Web3, with a focus on enhancing the robustness and transparency of stablecoin systems. We emphasize user and community engagement, striving to offer a diverse range of products and expand use cases. By integrating stablecoins into more real-world applications, we aim to serve a broader audience and scale to a billion users. Our vision is to revolutionize digital payments, positioning stablecoins as the leading payment method in the future digital economy.
- From the People, For the People: WSPN will introduce its own governance token to incentivize users by sharing the ecosystem’s value with them, making them the primary beneficiaries of this infrastructure. True infrastructure “comes from the people, serves the people,” and should not solely cater to the profit ambitions of a few. Any value system that fails to prioritize user value and incentives at its core is ultimately destined to be abandoned by its users. Unlike many stablecoins that simply distribute interest from underlying assets, WSPN’s governance tokens allow users to share in the ecosystem’s long-term value, liberating them from the limitations of fluctuating LPR. Over time, this approach will cultivate a strong sense of ownership among users, ensuring that the infrastructure remains community-driven and user-focused.
- By the Community, For the Community: WSPN will adopt community governance, empowering governance token holders to participate in on-chain voting. The goal is to shift from traditional corporate governance to a truly community-driven model. As a blockchain-based infrastructure, stablecoins must align more closely with Web3 principles. Decisions about the allocation of underlying assets should be made collectively by the community, which will vote on various risk/reward proposals. These decisions will be transparently recorded on the blockchain, enabling real-time on-chain asset verification and eliminating dependence on any single audit firm. Community governance seeks to build trust rooted in technology and rules, rather than in individuals or institutions.
- Empowering User Accessibility, Redefining Payment Systems: WSPN will dramatically enhance user interfaces, reduce entry barriers, and streamline the process for users to freely access and withdraw funds. The future of stablecoins must prioritize maximum accessibility, enabling both individual and institutional users to transition to stablecoin usage at a lower cost. It’s essential to understand that stablecoins should not be confined to the niche of crypto asset trading. Their primary mission should be to upgrade existing electronic payment systems, and even settlement and clearing processes. This means shifting from traditional bank transfers based on electronic ledgers to blockchain-based transfers on distributed ledgers. While stablecoin payment networks will coexist with traditional payment and settlement/clearing systems for some time, stablecoin payments are poised to gradually encroach on the market share of current electronic payment methods. In doing so, they will better serve the digital and intelligent economy of the AI era, laying the foundation for the next-generation global digital payment network.
- Building Value Ecosystem, Expanding Use Cases: WSPN is committed to developing a comprehensive product line, fostering a thriving value ecosystem, and creating diverse use cases for stablecoins. The future of stablecoins should empower users to manage a wide array of asset allocations, from stocks and gold to oil and commodity trading, enabling the purchase of any freely tradable asset worldwide. Stablecoins should also seamlessly integrate into everyday spending, whether it’s for public transportation, convenience store purchases, or shopping mall transactions. Moreover, stablecoins should provide multiple income streams, allowing users to maximize their financial potential—whether through holding stablecoins, lending, or wealth management—without the need for constant conversion between fiat and stablecoins. As a pivotal tool in open finance, stablecoins should aim to build a more vibrant value ecosystem, drawing in more participants to engage in various roles within this evolving financial landscape.
Stablecoin 2.0: A New Era of Globalization Through Digital Technology
Throughout history, technological advancements have continuously expanded our possibilities, revolutionizing international communication and commerce. We are now on the brink of a transformative wave of globalization, propelled by digital innovation. In this evolving landscape, stablecoin 2.0 emerges as a powerful catalyst, ushering in a new era of digital interconnectedness. As we step into this promising future, brimming with limitless potential, stablecoin 2.0 stands at the forefront, guiding us toward a world of unprecedented opportunity and progress.
About WSPN
WSPN is a global digital payments company utilizing Distributed Ledger Technology (“DLT”) to provide transparent, fast, and efficient payment solutions. 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. WUSD is currently available on more than 30 exchanges, including industry leaders such as Bitget and MEXC Global, and across major blockchains including Ethereum, Solana, Polygon, BSC, Arbitrum and Base. This broad accessibility makes WUSD one of the most readily available stablecoins in the market today.
Learn more: www.wspn.io | X | LinkedIn
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Fintech PR
2025 Will See Increased QR Code Payments but Payment Card IC ASPs Will Not Return to Pre-Covid Levels
ABI Research’s 5th annual Trend Report identifies the key Digital Payment Technologies trend that will come to fruition —and the 1 that won’t—in 2025
NEW YORK, Dec. 24, 2024 /PRNewswire/ — As 2025 kicks off, predictions abound on the technology innovations expected in the year ahead. In its new whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025, analysts from global technology intelligence firm ABI Research. ABI Research analysts identify 54 trends that will shape the technology market and 47 others that, although attracting vast amounts of speculation and commentary, are less likely to move the needle over the next twelve months. In the Digital Payment Technologies space, 2025 will see increased QR code payment acceptance but little growth for payment card IC ASPs.
“2024 has been marked by challenges, from global conflicts and inflationary pressures to political uncertainty. These factors have strained enterprise and consumer spending, leading to market inertia, short-term technology investments, sidelined capital, and the exposure of vulnerable suppliers,” says Stuart Carlaw, Chief Research Officer at ABI Research. “From a technology perspective, many industries and end markets are in that awkward stage of technology adoption where they are formulating implementation strategies, assessing solutions and partners, and trying to see if they have the resources needed to roll out solutions at scale. This is a particularly sensitive time, which tends to suggest 2025 will have tech implementers and end users on the brink of a period of a massive technology shift as they work through these issues.”
What Will Happen in 2025:
QR code payment acceptance will continue to increase with use cases expanding
Although QR code payment acceptance is prevalent in countries such as China and growing in emerging digital payment markets, including in India, use cases and potential growth areas are not limited to these countries. Significant and continued investments by vendors, including PayPal, Stripe, and SumUp, are setting the foundation for increased adoption in other mature and established economies with use cases expanding. Although QR codes are already being used by many Small and Medium Enterprises (SMEs) and pop-up retail businesses, 2025 will mark the year when the technology begins to shift from one niche to partial mainstream.
What Won’t Happen in 2025:
Payment card IC ASPs will not return to pre-COVID-19 levels
Since the COVID-19 pandemic, chipset pricing has been on a continual rise, driven by increased pricing in myriad manufacturing areas, including energy, raw material, transit pricing, and inflation, driving up wages. The chip shortage further compounded this, and according to ABI Research, the Average Selling Price (ASP) for a payment card Integrated Circuit (IC) increased by approximately +30% between 2020 and 2023. However, despite pricing pressures returning, the cost of payment ICs is some years away from matching pre-COVID-19 levels. Although 2025 will mark another year of pricing deprecation, it will not be until around 2028 when pricing is expected to drop to levels similar to those achieved in 2019 steadily.
For more trends that will and won’t happen in 2025, download the whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司，拥有得天独厚的优势，充当终端市场公司和技术解决方案提供商之间的桥梁，通过提供独家研究和专业性指导，推动成功的技术实施和提供经证明可吸引和留住客户的战略，无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:
Global
Deborah Petrara
Tel: +1.516.624.2558
[email protected]
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Fintech PR
Bybit Champions Web3 Innovation and Strengthens Ties with Asia’s Crypto Community at Taipei Blockchain Week
DUBAI, UAE, Dec. 24, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange, debuted at the Taipei Blockchain Week Dec. 12 to 14, 2024, spotlighting the vibrant Web3 innovations on its platform alongside a dynamic roster of its strategic Layer 1 ecosystem partners.
Featuring side events in collaboration with the Solana Foundation, the Sui Foundation, and a dazzling lineup of multichain projects, Bybit Web3 dedicated the Taipei tour to building up communities and deepening connections with Web3 ecosystem partners. The Bybit delegation also took the stage to uncover the latest insights on Web3, building with a purpose, and the future of blockchain utilities and DeFi.
Purpose, Innovation, and Partnerships
Representing Bybit at the conference were MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3, and Angela Huang, Bybit VIP Relationship Manager, at various panels.
Expanding on blockchain technology’s potential in building better realities for all, Chin joined as a panellist in the session Marketing Web3: Strategies to Engage and Onboard the Next Billion Users. Chin shared learnings and actionable insights from the Bybit-supported Blockchain for Good initiative (BGA), elaborating on both real-world utilities of blockchain technologies and the trickling down of benefits to grassroot communities.
Meanwhile, Angela Huang moderated three sessions closely tied to Bybit’s mission, steering conversations on crucial industry topics:
- The panel Bridging TradFi and DeFi: The Exchange’s Role in User Onboarding on Dec. 12 examined how exchanges could elevate access to the digital economy for users at scale.
- On Dec. 13, Networked Intelligence: The Rise of Decentralized AI explored the intersection of blockchain and AI, showcasing their potential to transform and democratize finance.
- The Building for Impact: How Female Founders Drive Purpose-Driven Innovation panel on Dec. 14 highlighted the evolving role of women leaders in driving solution-oriented innovation.
Another highlight at the event was amplified globally via Bybit Livestream. Collaborating with the Sui Foundation, Ondo, DeepBook, Scallop, NAVI, and other leading projects, Bybit Web3 led a critical debate on the future of Sui’s growth strategy: Sui Ecosystem Showdown: Mass Adoption vs. Native Growth. Hosted by Emily Bao, Head of Web3 and Spot at Bybit, the livestream attracted over 6,500 viewers live at the Taipei Blockchain Week and globally on Dec. 13.
Deepening Bonds: Key Web3 Ecosystems and Communities
Bybit Web3 brought the local community closer to its world-class ecosystem partners with engaging community events, co-hosting Taiwan DeFi Flow with Sui and Scallop on Dec. 12, and Solana Ecosystem Taipei Greetings with the Solana Foundation and Solar with the support of Orderly Network, Zetachain, Jupiter, and Sonic, on Dec. 14. Through collaborations and innovation, Bybit Web3 opens up new on-chain possibilities for partners and stakeholders to expand the Web3 universe.
These relaxed evening gatherings provided a convivial backdrop for like-minded builders and entrepreneurs to network, exchange ideas, and celebrate their shared enthusiasm for DeFi and dApps in Asia’s growing Web3 innovation hub.
“It’s been an incredible experience connecting with the builders, believers, users, creators, and supporters driving innovation on Solana and Sui. These moments remind us of the heart and spirit of Web3—a vibrant ecosystem shaped by collaboration and shared vision. I’m deeply proud to witness this growth, grateful for every connection made, and excited for the road ahead,” said MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3.
“Taipei Blockchain Week showcased the immense growth and potential of Web3 innovation in Asia. Representing Bybit, I had the honor to collaborate with industry leaders to explore Web3’s limitless possibilities, from DeFi and AI to real-world applications. Together, we are shaping a more inclusive global crypto community,” said Angela Huang, Bybit VIP Relationship Manager.
In the past year, Bybit has seen exponential growth in its user base, surging to over 60 million by the end of 2024. It has also invested in vertical growth through community engagements across the world. Connected by the passion for the future of crypto, blockchain, and Web3, the Bybit family is on track to building an inclusive and sustainable path to growth for the industry.
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit Web3, please visit Bybit Web3.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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TIANJIN, China, Dec. 24, 2024 /PRNewswire/ — On December 7, 2024, AIMA Technology Group warmly invited a delegation of five top-performing U.S. IBD dealers to visit its headquarters. Accompanying the group was Angela Zheng, CEO of AIMA’s U.S. subsidiary, AIMA EBIKE, along with her sales, marketing, and customer service teams. This visit not only marked a deepened connection between AIMA and the mainstream U.S. market but also provided U.S. dealers with a valuable opportunity to witness AIMA Technology’s globally leading capabilities in research, development, and manufacturing of electric mobility solutions.
The delegation first toured AIMA’s state-of-the-art factory in Tianjin. Aima Technology possesses production factories with extremely high levels of intelligent manufacturing Additionally, AIMA has integrated advanced technologies such as AI visual recognition and established a CNAS-certified R&D laboratory, maintaining its industry leadership in intelligent transformation. During the tour, the dealers were deeply impressed by AIMA’s cutting-edge technology, large-scale production capabilities, and relentless pursuit of excellence in product development and manufacturing. They expressed that this rare visit not only enhanced their understanding of AIMA but also strengthened their confidence in promoting AIMA products as a symbol of outstanding performance and exceptional quality to their customers.
Furthermore, AIMA Technology’s R&D team engaged in in-depth discussions with the dealers regarding the new models AIMA EBIKE plans to launch in 2025. The dealers test-rode prototypes of the latest models and shared their innovative insights. They expressed high praise for AIMA’s product innovation capabilities and market acumen, recognizing these as key factors that distinguish AIMA in the industry.
Later, the dealers joined AIMA Technology’s team to witness the rollout of the 10,000th AIMA E-Bike. This milestone moment showcased AIMA’s exceptional manufacturing strength and market influence. The dealers were inspired and expressed strong confidence in the promising future of their partnership with AIMA.
This visit from the top-tier U.S. dealer delegation not only deepened mutual trust and friendship but also injected new momentum into AIMA’s ambition to become a leader in the U.S. E-Bike industry by focusing on the IBD channel. Looking ahead, AIMA Technology will continue to strive to provide market-leading performance and quality, enhancing its product development and manufacturing capabilities while working hand-in-hand with global dealers to create an even brighter future.
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