UQPAY Launches Fiat-Stablecoin Payment System
Fintech company UQPAY has launched a full-stack payment infrastructure designed to bridge traditional fiat currency and stablecoins. The Singapore-based firm's platform unifies global acquiring, card issuing, and stablecoin accounts into a single ecosystem for global commerce.
Founded in 2016, UQPAY holds a Major Payment Institution (MPI) License and a Capital Markets Services (CMS) License from the Monetary Authority of Singapore (MAS). The company also has regulatory approvals in other key markets, including being registered as a Money Services Business with FinCEN in the US, with AUSTRAC in Australia, and holding a Money Service Operator License in Hong Kong. The company's CEO, Jack Li, is a graduate of Zhejiang University's Department of Computer Science and Technology. He also serves as the first president of the Singapore University of Social Sciences (SUSS) DBA Alumni Association, where UQPAY has been involved in philanthropic initiatives. This new platform's "dual-rail" architecture is designed to support businesses in high-growth sectors like cross-border e-commerce, SaaS, gaming, and Web3-native companies. It enables them to manage and move funds across both traditional and blockchain-based systems through a single API integration. The stablecoin functionality supports widely used stablecoins, including USDC and USDT. This allows businesses to leverage benefits like faster settlement times and reduced cross-border transaction friction. In February 2026, UQPAY's Australian subsidiary launched a commercial-grade stablecoin acquiring platform compatible with the Universal Commerce Protocol (UCP). This platform also supports the x402 payment protocol, an AI-native standard, indicating a focus on automated and machine-to-machine transactions. The Universal Commerce Protocol (UCP) is an open standard for "agentic commerce," developed by Google in collaboration with industry leaders like Shopify, Walmart, and Target. UQPAY's integration signals a strategic move to position its payment infrastructure for an anticipated rise in AI-driven commerce. UQPAY is a principal member of major card networks, including Visa, Mastercard, and UnionPay International, which provides direct integration into the global card payment ecosystem. This allows for a comprehensive offering that includes global acquiring, card issuing, and traditional payment rails alongside its new stablecoin capabilities.
