Wellcell Holdings Launches Fopay to Build Hong Kong’s First Institutional-Grade Web3 Payments Infra

Wellcell Holdings has officially entered the crypto payments space with the launch of Fopay, a global stablecoin payment platform designed to offer secure, compliant, and low-cost digital transactions for individuals and enterprises. The move positions Wellcell as one of the first Hong Kong-listed firms to capitalize on the city’s evolving regulatory environment for digital assets.

Fopay arrives at a pivotal moment. With the implementation of stablecoin regulatory frameworks across major jurisdictions — including the EU’s MiCA, the U.S. Stablecoin Act, and Hong Kong’s Stablecoin Ordinance passed in May — the stage is set for compliant crypto payment platforms to scale globally.

JPMorgan estimates the regulated stablecoin payments market will surpass $5 trillion by 2027, and the HKMA forecasts over 25% of Hong Kong’s cross-border settlements will be processed via stablecoins by the end of 2025.

Fopay’s compliance-first design leverages a prepaid card model built in partnership with licensed custodians and integrated into the VISA network, bridging stablecoins with traditional finance while mitigating custody risk. The platform’s appeal lies in its ability to slash remittance costs, accelerate settlements, and offer instant global merchant access through VISA’s 60-million strong network.

Fopay supports high-performance blockchains including Solana, Ethereum, Arbitrum, and BSC, enabling it to handle high-volume, low-value transactions like e-commerce payouts and gaming top-ups at a speed and scale traditional banks can’t match.

The strategic importance of Fopay extends beyond payments. Backed by Hangfeng International, Wellcell’s largest shareholder, the platform is part of a broader “payments + asset management” strategy. Hangfeng’s upcoming U.S.-listed asset management subsidiary is set to launch regulated digital asset services, with Fopay acting as a user acquisition engine and capital bridge.

With its multi-pronged ecosystem and institutional backing, Fopay could become the Web3 financial “super-interface” Hong Kong’s markets have long anticipated — combining regulatory compliance, financial innovation, and ecosystem synergies under a single, scalable infrastructure.

Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by the Editorial Team.

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