Wellcell Holdings (HK:02477) has officially entered the crypto payments space with the launch of Fopay, a global stablecoin payment platform. This strategic move positions the Hong Kong-listed firm to tap into rising demand for digital financial infrastructure and align with global regulatory shifts.
恒峰国际立足香港，专注于发展 Web3 相关业务，作为港股上市公司经纬天地（代码：02477）的单一最大股东，全力支持经纬天地在区块链加密支付领域的创新发展。… pic.twitter.com/sV7wamf2Fh
— 钱峰雷 (@qfl60123456) July 21, 2025
The launch comes amid a wave of regulatory clarity for stablecoins, notably Hong Kong’s Stablecoin Ordinance passed in May 2024, alongside the EU’s MiCA framework and the U.S. Stablecoin Act. These developments have laid the foundation for institutional adoption of stablecoin-based payments. According to JPMorgan, the compliant stablecoin market could surpass $5 trillion by 2027. Meanwhile, the Hong Kong Monetary Authority projects that over 25% of local cross-border settlements will be conducted via stablecoins by the end of 2025.
To meet this demand, Fopay employs a compliant prepaid card model that integrates with licensed custody partners and the VISA network. This architecture ensures secure asset management while offering seamless interoperability with traditional financial systems, giving it a regulatory edge over international competitors.
Furthermore, Fopay is engineered to solve core cross-border payment challenges. It enables zero-fee peer-to-peer transfers, settles transactions within minutes, and supports global accessibility through VISA’s merchant network. By leveraging high-performance blockchains like Solana, Arbitrum, Ethereum, and BSC, Fopay is optimized for high-frequency, low-value use cases such as e-commerce and gaming.
The platform also offers merchant APIs, allowing businesses to settle transactions in stablecoins and improve capital efficiency, further reducing reliance on traditional SWIFT rails.
Backing this innovation is Hangfeng International, Wellcell’s largest shareholder, which is rolling out a broader Web3 ecosystem strategy. This includes launching a regulated asset custody and management platform tailored for institutional players.
In a related development, former BitMEX CEO Arthur Hayes has highlighted growing structural pressures on U.S. government debt financing. He argued that stablecoins may soon serve as a vital liquidity bridge, underscoring their expanding role in global finance.
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