Obita & YY Group Partner to Revolutionize Cross-Border Payments for Gig Workers
Obita, a Hong Kong-based fintech company, has partnered with YY Group, a Singapore-based global workforce solutions provider, to streamline cross-border payments and improve financial access for gig workers, particularly in emerging markets. The collaboration, announced at the PayFi Summit during TOKEN2049 Singapore, aims to enhance efficiency and security in cross-border capital flows.
Obita's infrastructure, designed to facilitate cross-border settlements while maintaining regulatory compliance and security, will be integrated into YY Group's workforce platforms and corporate operations. This integration will enable YY Group to manage cross-border capital flows more efficiently, including intra-group financing and loan repayments.
For platform users, Obita's technology will offer faster and lower-cost payouts. Additionally, users will have the option to hold savings in fiat-backed stablecoins, mitigating currency volatility. The platform includes enterprise-level controls such as role-based approvals and real-time transaction monitoring to ensure security and transparency.
Mike Fu, Group Chief Executive Officer of YY Group, is leading the partnership with Obita. Together, they aim to optimize corporate costs and provide faster, more transparent, and cost-effective settlement solutions to international students and gig workers by integrating Obita's compliant stablecoin payment infrastructure.
Through this partnership, Obita and YY Group are set to revolutionize cross-border payments, particularly for gig workers in emerging markets. By leveraging stablecoin technology and robust security measures, the collaboration promises faster, cheaper, and more secure transactions, opening up new financial opportunities for users worldwide.
