Shares of WEBUY GLOBAL LTD. (NASDAQ:WBUY) soared 30% following the announcement of a new partnership with Victory Securities to develop stablecoin payment systems for its international travel and e-commerce services.
The Southeast Asian tech company specializing in e-commerce and travel plans to work closely with Hong Kong’s Victory Securities, a regulated financial services firm, to build a stablecoin payment infrastructure. This system aims to provide swift, secure, and seamless cross-border transactions. WEBUY intends to become one of the first Nasdaq-listed Southeast Asian e-commerce platforms to fully implement stablecoin payments, starting with USDC and USDT.
Victory Securities, founded in 1971 and regulated by the Hong Kong Securities and Futures Commission, is recognized as the first licensed company in Hong Kong authorized to offer virtual asset services to retail clients.
“Stablecoins open a new chapter for our business model,” said Xue Bin, CEO and Co-Founder of Webuy Global Ltd. “With Victory Securities as our partner — the first in Hong Kong authorized to offer virtual asset services to retail investors — we are well positioned to develop a crypto-ready ecosystem that enhances customer experience, reduces payment friction, and facilitates cross-border supplier settlement.”
This partnership builds on an earlier memorandum of understanding between the two companies and could expand into other virtual asset-related opportunities in the future.
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