The Worldwide Stablecoin Payment Network (WSPN) has launched Global Payment 1.0, an infrastructure aimed at facilitating transactions between stablecoins and traditional fiat currencies for institutional clients.
This new offering is designed to integrate with existing business systems, providing a streamlined approach to incorporating cryptocurrency payment options.
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Global Payment 1.0 is an API-centric platform that simplifies the conversion process between stablecoins, such as USDT, USDC, and WUSD, and fiat currencies.
The service includes both entry and exit points for cryptocurrency transactions, all accessible via a single API interface.
This development is intended to reduce the complexities that are typically involved in the exchange between crypto and fiat currencies.
WSPN founder and CEO Raymond Yuan said: “Global Payment 1.0 represents a significant leap forward in institutional crypto infrastructure. By providing comprehensive API access to our payment ecosystem, we’re enabling businesses to offer their customers seamless crypto-to-fiat services without the technical complexity of building these capabilities in-house.”
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By GlobalDataThe platform manages the full scope of transactional operations through API connectivity.
This includes the onboarding of new clients, the execution of Know Your Business (KYB) procedures, compliance checks, as well as the facilitation of on-ramp and off-ramp services and the swapping of tokens.
Global Payment 1.0 is the Unified API Interface, which serves as a centralised point for all payment-related operations. The platform also supports multiple stablecoins, offering native support for USDT, USDC, and WUSD.
WSPN is known for its work in the stablecoin sector, with its WUSD stablecoin pegged to the US Dollar on a one-to-one basis.
Last month, WSPN expanded its range of services to include the WUSD stablecoin, the Global Treasury Platform, an Adaptive Payments Network featuring Wallet-as-a-Service and API infrastructure, and an On-Chain Financial Suite equipped with features for institutional use.
