Weifeng Enters Strategic Partnerships With Seas Young and Must Group
According to a Sept. 5 release, Weifeng Technology is entering “strategic partnerships” with Seas Young and Must Group to expand on its existing services.
Under the new agreement, the two companies will leverage Weifeng’s blockchain-powered solutions and NFT payments gateway. Both Seas Young and Must group customers will now have access to Weifeng’s NFT payments technology, in addition to current options such as VISA, Mastercard, PayPal, AliPay, and VNPay.
Furthermore, the companies will integrate Weifeng’s blockchain solutions to strengthen their human resource and payroll systems.“[We are] glad to partner with two leading corporations in the region that will contribute to sales growth for their businesses and improve efficiency and security of their operations. Today’s announcement also reflects the exciting growth of the NFT payment technology and other blockchain-powered solutions,” Weifeng said in its prepared press statement.
Going forward, Weifeng intends to expand this cooperation into other areas and collaborate with more players in the e-commerce domain across Asia, America, and Europe.
Notably, the company has recently launched its cryptocurrency exchange JeritEX, which runs on the Binance Smart Chain (BSC) protocol. JeritEX first airdropped its native currency JRIT on Aug. 8 and has listed 13 pairs for trading until now.
Singapore’s Flourishing Crypto Market and Regulations
Barring a few exceptions, Singapore has generally been favorable towards crypto-focused firms. That bodes well for the country’s youth, who are heavily invested in digital assets. Around 93% of Singaporeans have already heard of cryptocurrencies and 66% of young people hold crypto-assets.
While Singapore’s crypto industry has seen explosive growth in the last two years, regulators have ensured that companies adhere to the 2019 Payment Services Act.
Last month, the Monetary Authority of Singapore (MAS) provisionally accepted a licensing application from the crypto exchange Independent Reserve. If the application is finalized, the Australian company would become the first of its kind to provide authorized digital payment token (DPT) services in the city-state.