UU Wallet: Upholding Integrity and Innovation, a New Force in Southeast Asia's Crypto Payment

The 2024 SmartCon conference, hosted by Chainlink, recently concluded in Hong Kong. As one of the top sponsors of the conference, the Southeast Asian crypto payment newcomer UU Wallet attracted significant attention.

Founded in 2022, UU Wallet is dedicated to solving issues such as limited usage scenarios and free exchange for businesses and individual users through innovative crypto payment solutions utilizing various stablecoins. UU Wallet has initially focused on the Southeast Asian market and already has 500,000 users, aiming to become a leading crypto 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 money licenses (EMI) in the Philippines. Additionally, it has received compliance support for local OTC business 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 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 use this service to quickly convert US dollars to Philippine pesos 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 transactions. UU collaborates with VISA and Mastercard to cover 160 countries worldwide. Users can load stablecoins onto virtual or physical cards without the need for frequent exchanges, allowing for seamless spending in fiat currency and real-time tracking of transaction records.
• Wallet-as-a-Service (WaaS): UU Wallet's WaaS solution is designed to empower businesses by providing secure management of crypto digital currencies, enabling efficient and secure integration of digital payments in collection scenarios. With WaaS, businesses can allow customers to complete purchases directly with cryptocurrencies without additional development, attracting more international users. For instance, many foreign trade enterprises in the Philippine market are seamlessly achieving 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 a personal self-custody wallet feature to further enrich its service offerings, and the new overall product platform will officially launch in November. At that time, users will be able to intuitively experience crypto payment features that differ from other wallets, providing a one-stop solution for convenient cryptocurrency exchange and global consumption services.

In this new wave, with the rapid improvement of user education, UU Wallet will play an important role in the Southeast Asian and even global crypto market, and hopes to see more partners that combine compliance and innovation join. Safety, compliance, and innovation will open a new chapter in payments!