#Hong Kong #stablecoin #CLPS #CAKU

CLPS Incorporation's Strategic Leap into Web3

In a groundbreaking announcement, CLPS Incorporation (Nasdaq: CLPS) revealed the launch of a Web3-ready issuance platform through its subsidiary, Qinson Credit Card Services Limited (QCC), marking a pivotal step towards integrating stablecoins into traditional payment systems. This innovative move brings stablecoin payment and settlement functions to the forefront of CLPS's core credit card platform, CAKU.

Understanding Stablecoins

Stablecoins are digital financial instruments designed to maintain price stability by linking their value to real-world assets, such as fiat currencies. By harnessing the power of blockchain technology, stablecoins enable faster and more cost-effective transactions. CLPS's incorporation of these digital assets into its payment framework aims to elevate the financial experience for banks, merchants, and consumers alike.

Key Features and Benefits

The upgraded CAKU platform comes equipped with advanced features:
1. Intelligent Stablecoin Minting: The platform employs smart contracts to automate the minting of stablecoins based on live fiat currency reserves, maintaining their pegged value.
2. Fiat-to-Stablecoin Exchange: CLPS offers streamlined processing for converting fiat to stablecoins, facilitating quick deposits and enhancing capital flow.
3. Stablecoin Burning and Redemption: A user-friendly mechanism allows users to convert stablecoins back to fiat seamlessly, with a smart contract mechanism in place to regulate supply after redemption, stabilizing value.
4. Accurate Reserve Management: The system accurately updates reserve records to reflect changes post-burn, ensuring the integrity of real assets.
5. Seamless Payment Experience: Users can easily select stablecoins through their bank’s app to pay bills or settle transactions instantly.
6. Cost Savings and Speed: By utilizing stablecoins, the platform ensures quicker transaction processing and lower fees, particularly beneficial for cross-border transactions.
7. Broader Financial Inclusion: This initiative acts as a bridge for digital currency users into conventional financial systems, enhancing access for cross-border commerce and digital activities.
8. Compliance and Security: CLPS ensures that all operations comply with regulatory standards, incorporating robust KYC and AML protocols.

Target Markets and Applications

CLPS's stablecoin integration opens new avenues for various sectors:

• - Issuing Bank Services: Financial institutions can launch 'stablecoin credit card' products to cater to tech-savvy customers.
• - E-commerce and Cross-Border Merchants: Online businesses can capitalise on reduced payment processing fees compared to traditional channels.
• - Corporate Clients: Advanced fund management tools for businesses facilitate the settlement of substantial transactions utilizing stablecoins, bridging digital assets and traditional businesses.

CEO Insights

Raymond Lin, the CEO of CLPS, commented on this milestone, stating, "With the merging of conventional finance and digital assets, our integration of stablecoin functionality into CAKU exemplifies our commitment to technological innovation. We aspire to provide our partners with comprehensive tools to navigate the changing payment landscape, urging towards a more interconnected and inclusive financial ecosystem."

About CLPS Incorporation

Founded in 2005 and headquartered in Hong Kong, CLPS Incorporation leads the charge in digital transformation and operational efficiency through innovations in AI, cloud computing, and big data. The company operates across 10 global markets, including regional hubs in Shanghai, Singapore, and California. With dedicated subsidiaries in Japan and the UAE, CLPS is strategically positioned to support a diverse array of industries, including fintech and tourism, ensuring they harness data-driven solutions for future growth.

For more details, visit their website, or connect with CLPS on their social media platforms.