UQPAY Launches Fiat-to-Stablecoin Payment Stack
Singapore-based fintech UQPAY has launched a full-stack payment infrastructure designed to bridge fiat and stablecoins. The platform unifies global acquiring, accounts, card issuing, and stablecoin services into a single ecosystem. The goal is to simplify global commerce for businesses needing to operate with both traditional and digital currencies.
UQPAY's move into stablecoin payments is backed by a significant global regulatory footprint, including a Major Payment Institution license from the Monetary Authority of Singapore (MAS), registration as a Money Services Business with FinCEN in the US, and licenses in Hong Kong and Australia. The company is a principal member of Visa, Mastercard, and UnionPay, integrating directly into traditional payment networks. The company, founded in 2016 by CEO Jack Li, operates across more than 200 markets and supports over 140 currencies. Its "dual-rail" architecture is the core of the new service, designed to process both traditional fiat payments and multi-chain stablecoin transactions, including support for USDC and USDT. Earlier this year, UQPAY's Australian division launched a commercial-grade stablecoin platform specifically designed for both merchant payments and AI-initiated autonomous transactions. This system is built to be compatible with the x402 payment protocol, an AI-native payment standard, signaling a focus on machine-to-machine and AI-agent economies. In late 2024, UQPAY secured a Capital Markets Services (CMS) license from the Monetary Authority of Singapore, announcing plans to launch a private equity fund. This fund is intended to target investment opportunities in the upstream and downstream fintech sectors, positioning UQPAY not just as a service provider but as a strategic investor in the ecosystem.
