OwlTing Group Integrates Stellar USDC Stablecoin into Its OwlPay® Wallet Pro Solution Targeting Enterprises and Individual Users in the U.S.

This integration enables OwlPay® to join the Stellar ecosystem and foster synergies among the leading developers to bring most the world's main currencies together seamlessly on one platform.

TAIPEI, Aug. 1, 2024 /PRNewswire/ -- OwlTing Group, a global blockchain fintech company headquartered in Taiwan, today announced that its digital wallet solution, OwlPay® Wallet Pro (the "Wallet") has integrated with the Stellar blockchain to support the Stellar USDC stablecoin. The Wallet is now available both for iOS and Android on Apple's App Store and Google Play Store in the U.S., offering a legal, compliant, and seamless cross-border transaction experience for enterprises and individual users.

OwlPay® Wallet Pro supports the USDC stablecoin on Stellar, along with five[1] other major blockchains. The integration expands the reach of OwlPay®'s payment platform through the Stellar network, which is expected to continue its growth in the user base by tapping into more than 8 million accounts on Stellar with over US$1.6B total payments volume for all real-world assets.

This integration enables OwlPay® to join the Stellar ecosystem and foster synergies among the leading developers to bring most the world's main currencies together seamlessly on one platform. This was incorporated by a strategic investment from the Stellar Development Foundation (SDF). SDF's investment is part of the recently closed financing round of the OwlTing Group raising an aggregate amount in the eight figures in USD among investors from the U.S., Japan, the U.K., and Taiwan.

Darren Wang, Founder and CEO of OwlTing Group, expressed his excitement about the dynamics, stating, "Our collaboration with the Stellar Development Foundation marks a significant step forward for OwlPay®. Integrating the Stellar blockchain into our Wallet opens up access to Stellar network users in the U.S. This presents a tremendous opportunity for OwlTing to expand our user base and enhance our market presence. We are excited to leverage this partnership to bring OwlTing's innovative cross-border payment solutions to a broader community."

Beyond the wide geographical reach, a key advantage of OwlPay® Wallet Pro would be staying compliant with regulations. OwlTing currently holds Money Transmitter Licenses (MTL) from 28 states[2] in the U.S., allowing it to serve both corporate customers across 46 states and individuals in these 28 states. The Company leverages AI-enhanced compliance partners to implement measures for customer due diligence and anti-money laundering, ensuring users to transact both fiat and stablecoin with the Wallet properly.

Integrated with the Stellar network, OwlPay® Wallet Pro offers another key advantage of streamlined transaction process for users. OwlPay® users are not required to acquire Stellar Lumens (XLM) to pay for the transaction expenses, such as the account activation fee (Sponsored Reserves) and the transaction fee (Fee-bump). Instead, those expenses are charged in fiat currency, greatly simplifying the process and eliminating the need to exchange fiat for another cryptocurrency.

To better transfer different financial assets across regions or payment systems, Stellar allows Anchors[3], entities that bridge their payment services to the network to unite the fiat and digital asset economies, to form a new global payment standard. This enables OwlPay® to offer users an accessible entry into a state-licensed and secure self-hosted payment wallet on the Stellar network, providing a direct on-off ramp solution for sending and receiving stablecoins within the U.S.

"Going forward, OwlTing is well-positioned to become one of the Stellar Anchor Directory members," said Darren Wang, "Through this collaboration, OwlTing will join in the efforts of building a global network with Stellar, empowering users to access cross-border payments with a compliant and ready-to-use solution, and to explore the possibilities of optimizing payment flows in the Web3 environment."

Stellar is a decentralized, fast, scalable, and uniquely sustainable network made for financial products and services. It is powered by a thriving and passionate ecosystem that includes a non-profit organization driven by a mission. Stellar is unlocking the world's economic potential through blockchain technology. Built with speed and low costs in mind, the Stellar network provides builders and financial institutions worldwide a platform to issue assets, and to send and convert currencies in real time, creating real world utility.

ステラ開発財団 (SDF) は、世界の金融インフラを接続するオープンソース ネットワークであるステラの開発と成長をサポートする非営利組織です。 2014 年に設立されたこの財団は、Stellar のコードベースの維持を支援し、ネットワーク上に構築されている技術コミュニティとビジネス コミュニティをサポートし、規制当局や機関への代弁者としての役割を果たしています。財団は、ステラネットワークを使用してブロックチェーン技術を通じて世界の経済的可能性を解き放ち、世界の金融システムへの公平なアクセスを構築することを目指しています。詳細については、こちらをご覧ください。

OwlPay® Wallet Pro は、企業や個人を支援するセルフホスト型ブロックチェーン ウォレット ソリューションであり、国境を越えた取引向けに米国州認可の安全な多通貨支払いウォレットの迅速なセットアップを提供します。詳細については、こちらをご覧ください。

2010年設立

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