SINGAPORE, Jan. 21, 2022 (GLOBE NEWSWIRE) — The WadzPay (WTK) token is available on XinFin’s XDC network as an XRC20 token, marking the next step in a strategic technology partnership between the two leading players, enhancing the interoperability between WTK chains paves the way for the use of WTK for games, microtransactions and remittances planned for 2022 among various other applications and use cases.
WTK will play a vital role in realizing WadzPay’s desire for interoperability between payment protocols enabling conversion between CBDCs, stablecoins and cryptocurrencies by bridging the “old world” of fiat payments with the latest technologies. latest digital asset payments.
WadzPay currently offers Issuance, Acceptance, Play and Remittance products. This partnership with XinFin will further enhance its offering with loyalty, tokenization, trade finance, and buy-it-now-pay-later (BNPL) services over the coming months.
The XDC network was selected by WadzPay as the ultimate protocol given its significantly faster transaction speed, negligible gas fees and military-grade security, as well as XinFin’s focus on providing apps for trade finance and remittances.
As part of WadzPay’s core principle of interoperability and creating value for its customers, WTK will also be available on other leading protocols in the future to enable a variety of choices, allowing users to match the best protocol for their specific use cases.
“We are excited to extend WTK to one of the fastest growing and innovative networks in the entire blockchain space, allowing us to address interoperability issues in blockchain payments” said Anish Jain, Managing Director and CEO of WadzPay.
“Once solution providers realize how strong and beneficial developing on the XDC network is, it becomes an obvious decision to use our powerful technology. Even more special, WadzPay will also partner with Impel for financial messaging and payments to better serve its customers.” ~ Troy S. Wood, Project Manager for Impel, the official ISO-20022 financial messaging and XDC payments startup spun off from the XinFin Foundation.
Users will be able to utilize an easy-to-use bridge accessible at https://bridge.wadzpay.com/ that will convert their WTK ERC-20 tokens into XRC20 tokens, instantly benefiting from the many benefits offered by the XDC network.
Exchange support for WTK will be available soon to allow users to choose which blockchain protocol they wish to withdraw their tokens to, as users seek low gas fees and fast transaction times.
WadzPay is a blockchain-based, technology-independent digital payments ecosystem with an interoperable layer connecting different verticals into a unified platform. The company was founded in 2018 in Singapore and currently operates in Southeast Asia, South Asia, the Middle East and Africa. WadzPay saw the potential of CBDC and digital assets to lead the next revolution in the payments industry: enabling faster payments, security improvements and cost efficiency with options. WadzPay works with major international payment companies, banks and global enterprises to enable digital asset-based transaction processing and settlement to revolutionize payments.
XinFin is an open-source Delegated Proof-of-Stake (XDPoS) consensus network that enables hybrid relay bridges, can handle over 2000 TPS, with a low fee of $0.0001, a 2-second confirmation time, and a interoperability with ISO 20022 financial messaging standards. The platform is fully optimized for international trade and finance. Powered by its native XDC token, the network is an EVM-enabled smart contract platform to support various use cases such as Trade Finance Remittance, CBDC, and other mainstream DApps.
Contact person: Francisca Adinda
THE SOURCE: WadzPay