YY Group plans stablecoin payments for gig worker platform

YY Group Holding Limited (NASDAQ: YYGH) announced plans to integrate stablecoin-powered payments into its gig worker platform. The Singapore-based workforce solutions company said the technology will enable faster, lower-cost transactions for gig workers and clients.

The integration will allow gig workers to receive earnings in local currency or stablecoins such as USDT or USDC, with instant or next-day settlement options. Clients can pay in fiat currency or stablecoins, with built-in conversion capabilities. All transactions will include compliance protocols such as KYC/KYB checks and sanctions screening.

"For workers, it means faster access to earnings; for clients, it means seamless, lower-cost cross-border payments," said Mike Fu, Group Chief Executive Officer. The company will partner with licensed providers to implement the stablecoin capabilities.

YY Group cited regulatory developments including the U.S. GENIUS Act, EU's MiCA framework, and Singapore's Monetary Authority stablecoin regime as factors enabling enterprise adoption. The company noted that Visa On-Chain Analytics reported annualized stablecoin transaction volumes surpassed $27 trillion in 2024.

The company operates on-demand staffing and integrated facility management services across Asia and other regions. YY Group said the stablecoin integration could create revenue opportunities through FX conversion participation and instant settlement fees.

The information is based on a company press release.

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