Feb 23, 2024 – – WSPN, a leading global digital payments company, proudly announces a strategic collaboration with OpenEden Labs, developers of the OpenEden TBILL Vault, an institutional-grade real-world assets (RWAs) tokenization platform to develop on-chain products that integrate WSPN’s flagship USD stablecoin WUSD (“Worldwide USD”) into DeFi (Decentralised Finance) ecosystem.
A portion of WUSD reserves will be allocated and held in $TBILL, an ERC-20 token fully backed by short-term U.S. Treasury Bills held with a regulated custodian, which enables real-time on-chain transparency on WUSD’s reserves held in $TBILL, a first among all fiat-backed stablecoins in the market.
The decision to adopt the $TBILL token as an on-chain reserve asset is rooted in its top-tier regulatory compliance and transparency, robust legal structuring ensuring investor protection, and cutting-edge security infrastructure. OpenEden’s commitment extends to collaborating with best-in-class service providers for market data, audit, prime brokerage, and custody. Notably, $TBILL tokens are issued by a BVIFSC-regulated professional fund, managed by a reputable Singapore-based fund management company.
This collaboration signifies a momentous leap forward for WSPN, emphasizing its dedication to innovation and excellence within the blockchain industry. WSPN’s vision for WUSD extends beyond being a mere stablecoin; it aspires to become a key issuer offering a secure and transparent alternative seamlessly adoptable across various blockchains, digital wallets, and decentralized application ecosystems.