OwlTing Group has introduced a big improvement in its digital pockets service by integrating OwlPay Pockets Professional with the Stellar blockchain. This integration is aimed toward supporting the USDC stablecoin on Stellar, thereby broadening the accessibility and utility of the OwlPay fee platform. In accordance to a press launch issued by OwlTing, a world blockchain FinTech firm, this transfer will lengthen the platform’s attain to over 8 million accounts on the Stellar community.
The founder and CEO of OwlTing Group, Darren Wang, conveyed that integrating the Stellar blockchain into their digital pockets will grant entry to Stellar community customers in the USA. This improvement is seen as a considerable alternative for OwlTing to develop its consumer base and improve its market presence.
Multi-Blockchain Help and Regulatory Compliance
The mixing with Stellar marks the sixth main blockchain that OwlPay Pockets Professional helps for the USDC stablecoin. Prior to this, the platform already supported Ethereum, Polygon, Avalanche, Arbitrum, and Optimism. This multi-blockchain help showcases OwlTing’s dedication to offering versatile and sturdy fee options throughout numerous blockchain networks.
OwlPay Pockets Professional is designed to supply a authorized and compliant resolution for cross-border transactions, catering to each enterprises and particular person customers. The platform holds cash transmitter licenses from 28 states within the U.S., enabling it to serve company clients in 46 states and particular person customers in 28 states. This regulatory compliance ensures that OwlPay can function effectively and legally throughout a large geographic space, offering a safe and dependable service to its customers.
Enhanced Fee Flexibility and Future Prospects
A notable benefit of the combination with Stellar is that it permits OwlPay customers to deal with transaction bills, reminiscent of account activation charges and transaction charges, utilizing fiat foreign money. This characteristic eliminates the necessity for customers to purchase Stellar Lumens (XLM) to cowl these bills, thereby simplifying the fee course of and enhancing consumer comfort.
Darren Wang highlighted that OwlTing is well-positioned to grow to be a member of the Stellar Anchor Listing. This collaboration with Stellar is anticipated to contribute to constructing a world community, empowering customers with entry to compliant and ready-to-use cross-border fee options. Moreover, it affords alternatives to optimize fee flows throughout the Web3 surroundings.
In June 2021, Lisa Nestor, who was the senior director of ecosystem on the Stellar Improvement Basis at the moment, expressed optimism in regards to the digital asset house’s progress. She emphasised that enabling connections with stablecoins like USDC would supply new methods to entry conventional fiat foreign money. Nestor famous that there’s vital curiosity and demand globally for the flexibility to save, entry, and transact seamlessly throughout borders with {dollars}.
Conclusion
The mixing of OwlPay Pockets Professional with the Stellar blockchain represents a strategic transfer by OwlTing Group to improve its fee platform’s capabilities and develop its market attain. By supporting USDC on Stellar, OwlPay can now serve a broader viewers, offering them with a authorized and compliant resolution for cross-border transactions. This integration not solely simplifies the transaction course of for customers but in addition positions OwlTing as a big participant within the evolving Web3 surroundings. Because the digital asset house continues to develop, collaborations like this might be essential in optimizing fee flows and providing modern options to meet the calls for of a world consumer base.
