#Singapore #stablecoin #Obita #YY Group

YY Group Partners with Obita for Global Payment Solutions

In a significant leap towards enhancing global payment systems, YY Group Holding Limited (Nasdaq: YYGH), a leader in workforce solutions and integrated facility management, has announced a partnership with Singapore-based Obita. This collaboration centers on integrating Obita's innovative stablecoin payment infrastructure into YY Group's operations, which are designed to support gig workers on a global scale.

Understanding the Partnership

The partnership was formalized through a Memorandum of Understanding (MOU), under which YY Group will incorporate Obita's enterprise-grade payment technology into its international gig workforce platforms. The aim is to establish a compliant and scalable system that facilitates receivables, payables, and treasury management. As businesses increasingly demand intuitive and regulatory-ready payment solutions, Obita's infrastructure emerges as a game-changer, particularly in the gig economy.

According to Obita, the designed solutions are focused on easing cross-border transactions for enterprises. They ensure that payment systems not only comply with regulatory frameworks but also maintain high security standards, which are paramount in today’s financial environment.

Benefits for Workers and Enterprises

This collaboration will significantly benefit YY Group's user base, especially international students and gig workers who often face challenges with traditional payment methods. The integration of Obita's technology will enable faster, more cost-efficient payouts, allowing workers to hold savings in fiat-backed stablecoins. This innovative step aims to minimize volatility associated with local currencies and enhance retention within YY Group's ecosystem.

The enterprise-level integration is expected to optimize YY Group's cross-border capital management, improving overall efficiency and supporting margin enhancement as the organization continues to scale its operations.

Mike Fu, CEO of YY Group, commented: "Cross-border payments are crucial for our global operations. Our alliance with Obita equips us to manage enterprise costs effectively while providing our workers with quicker and more transparent payment options." This strategic decision places YY Group in a stronger position for expansion, particularly in emerging markets across Southeast Asia and the Middle East, where they plan to conduct regional pilot programs.

A Focus on Financial Inclusion

The partnership between YY Group and Obita goes beyond mere financial transactions. Both companies are dedicated to promoting financial inclusion, particularly for underserved gig workers around the world. By utilizing stablecoin infrastructure, they aim to create a more equitable economic landscape where workers have easier access to financial services.

Zhang Dayong, CEO of Obita, expressed enthusiasm about the partnership: “YY Group exemplifies the type of large-scale ecosystem where compliant stablecoin solutions can make a real difference. Our collaboration demonstrates that technology and regulation can work hand-in-hand to improve payment efficiency, security, and inclusivity.”

The leaders of both YY Group and Obita recently shared their vision at the PayFi Summit at TOKEN2049 in Singapore. Here, they highlighted the potential of stablecoin infrastructure to reorganize cross-border payments, thus aiming to accelerate the digital evolution of the gig economy. Particularly, the emphasis was placed on how this model could provide significant advancements in financial inclusion for gig workers in regions that typically lack access to such services.

About YY Group Holdings Limited

YY Group, founded and headquartered in Singapore, is committed to delivering flexible, scalable workforce solutions through advanced technology and systems. The company specializes in areas like on-demand staffing and integrated facility management across various sectors including healthcare, logistics, and retail. They leverage digital platforms to help businesses adapt to varying labor needs, ensuring high performance in dynamic environments.

With a growing presence around the globe, including Asia, Europe, and the Middle East, YY Group is listed on the Nasdaq Capital Market and prioritizes operational innovation and value creation.

For additional information, visit YY Group's website.

About Obita

Obita provides a robust and secure payment infrastructure that supports stablecoin transactions alongside traditional fiat options. The platform aims to promote financial inclusivity by making transaction processes accessible and reliable for businesses and workers in every corner of the globe. To learn more about Obita's offerings, you can visit Obita's website.