The 2024 SmartCon conference hosted by Chainlink recently concluded in Hong Kong. As one of the top sponsors of the conference, UU Wallet, a new force in Southeast Asian crypto payments, attracted much attention.
UU Wallet was founded in 2022 and is committed to solving problems such as limited usage scenarios and free exchange for enterprises and individual users through innovative crypto payment solutions and the use of a variety of stablecoins. UU has been deeply involved in the Southeast Asian market in the early stage and already has 500,000 users. Its goal is to become the leading crypto payment service provider in Asia and even the world.
UU Wallet currently has offices in Singapore, Hong Kong and Manila. It has obtained exclusive cooperation qualifications for the use of virtual asset service licenses (VASP) and electronic payment licenses (EMI) in the Philippines. At the same time, it has obtained compliance qualification support for local OTC business in Malaysia, Singapore, Hong Kong and other Southeast Asian countries and regions.
On the basis of compliance, UU Wallet has launched three core products to meet the needs of high-frequency users in different scenarios:
• Lightning transaction service: Serving users of cross-border remittances and large-value currency exchanges. For example, Filipino workers in the United States can use this service to quickly convert US dollars into Philippine pesos with the help of stablecoin payment technology, eliminating high handling fees and cumbersome confirmation procedures.
• UU Prepaid Card: Serving stablecoin customers who frequently spend overseas and in local fiat currencies. UU covers 160 countries around the world through cooperation with VISA and Mastercard. Users can recharge stablecoins into virtual or physical cards, without frequent exchange, and use fiat currencies for barrier-free spending and check consumption records in real time.
• Third, Wallet-as-a-Service (WaaS): UU Wallets WaaS solution is designed to empower enterprises, providing enterprises with secure management functions for encrypted digital currencies, enabling them to efficiently and securely integrate digital payments in payment scenarios. Through WaaS services, enterprises can allow customers to use cryptocurrencies to complete shopping payments directly without additional development, attracting more international users. For example, many foreign trade companies in the Philippine market are using UU Wallets WaaS system to seamlessly realize digital currency collection, settlement and exchange, improving the convenience of cross-border transactions and global business development capabilities.
In the next phase, UU Wallet will develop the function of personal self-hosted wallets to further enrich the scope of services, and the new version of the overall product platform will be officially launched in November. By then, users will be able to intuitively experience the encrypted payment function that is different from other wallets, and solve the convenient exchange of cryptocurrencies and global consumption services in one stop.
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 crypto markets, and we also hope that more partners with both compliance and innovation will join us. Security, compliance and innovation, opening a new chapter in payment,
