Oct. 2 at 5:21 PM
YY Group Holding Limited (Nasdaq:
$YYGH) announced that it has entered into a Memorandum of Understanding (MOU) with Obita, a Singapore-based enterprise-grade payment infrastructure platform. The partnership will integrate Obita’s stablecoin-powered payment infrastructure into YY Group’s global gig workforce platforms and corporate operations.
YY Group is a B2i Digital Featured Company. See the investor profile at: https://b2idigital.com/yy-group.
Among the highlights from the news release:
• The integration aims to streamline YY Group’s cross-border capital flows, including intra-group financing and loan repayment.
• Platform users, particularly international students and gig workers, will have access to faster, lower-cost payouts and the option to hold savings in fiat-backed stablecoins.
• The collaboration supports the Singapore-headquartered company’s international expansion strategy across Southeast Asia, the Middle East and other growth markets.
• Senior leaders from both companies participated in the PayFi Summit at TOKEN2049 Singapore to announce the collaboration.
Mike Fu, Group Chief Executive Officer of YY Group, said, “Cross-border payments are a key operational lever for scaling our global platform. Partnering with Obita enables us to optimize enterprise costs while delivering faster, more transparent, lower-cost settlement options to the hundreds of thousands of workers and clients we support worldwide. This positions YY Group to scale more efficiently, strengthen our margins and accelerate our global expansion initiatives.”
Read the full press release here: https://ir.yygroupholding.com/news-releases/news-release-details/yy-group-partners-obita-strengthen-global-ecosystem-stablecoin.
YY Group is led by a highly experienced management team including Fu Xiaowei (“Mike Fu”), Founder & CEO; Zhang Fan, Co-Founder & Director; Phua Zhi Yong (“Jason Phua”), CFO; Xu Lin Pu (“Rachel Xu”), CHRO; and Teng Sin Ken, CIO.
To learn more about YY Group Holding Limited, visit https://www.yygroupholding.com. For investor inquiries, contact
[email protected] or visit https://ir.yygroupholding.com/ir-contact.
