PassPay Co., Ltd., a frontrunner in digital payments has entered into a strategic partnership with EOS Network Foundation and EOS labs. The partnership with the Tokyo-based company is focused on blockchain technology.
In a press release shared with Cryptowisser, the team said PassPay and EOS will work together to optimize financial services using blockchain technology and develop new services. The joint research and development of both companies aim to further evolve the use of blockchain in the financial industry.
Key Points of the Partnership
Integration of EOS Network with PassPayWallet
By integrating the EOS Network, known for its world-class performance and low gas fees, into PassPayWallet, we can enhance the convenience of wallet users.
Innovation in Blockchain
Utilizing EOS's advanced blockchain technology, we aim to improve the transparency and efficiency of PassPay's payment systems.
Token-Based New Services
By merging the knowledge of both companies, we will develop new financial services and tokens based on EOS blockchain technology.
To increase transaction security, we will integrate the latest security features of EOS blockchain technology.
The team further revealed that within six months, PassPayWallet has achieved over 1300 downloads and continues to grow at an astonishing rate of 200 downloads per month. This momentum is unstoppable, with plans to support more networks in the future.
Furthermore, PassPayWallet is working to introduce payment functions using stablecoins, allowing users to transact in a currency with more stable value. The significance of PassPayWallet goes beyond these achievements, continually proving its value with each use.
PassPay Co added that they are committed to the issuance of the stablecoin JPYW and the development of a wallet that can manage digital assets, including stablecoins, in a one-stop manner. They are also working to expand the use scenarios for JPYW. The partnership with the EOS Labs and EOS Network Foundation will further accelerate PassPay’s efforts and contribute to the realization of our mission.
While commenting on this latest partnership, Yves La Rose, Founder and CEO of EOS Network Foundation, said
"Our collaboration with PassPay to introduce JPYW on the EOS blockchain fills us with great enthusiasm. This move is set to broaden the horizons of the EOS Network, offering fresh applications and bringing the transformative capabilities of blockchain technology to a wider audience in Japan. Working together with PassPay, we're poised to propel the integration of blockchain into the fintech sector and establish pioneering benchmarks for the industry."
Yoshikatsu Kitano, CEO of PassPay Co., Ltd, added that,
"Our new partnership with EOS represents a significant step in maximizing the potential of blockchain, and we are confident that PassPay is entering a new stage in digital payments. We look forward to providing our customers with even more secure and efficient services."
EOS Network Foundation is a leading organization supporting and promoting the blockchain technology and ecosystem of EOS. ENF was established to ensure the technological innovation and sustainable development of EOS, the foundation's core activities include developer education, community support, funding research, and strengthening the technological foundation of EOS.
Meanwhile, PassPay Co., Ltd. is dedicated to overcoming the "three walls" that hinder the use of cryptocurrencies in everyday life. The "three walls" refer to the challenges in using cryptocurrencies for real-world transactions due to significant price volatility, the underutilization of the borderless nature of cryptocurrencies, and the transitional period of increasing digitalization and cashless transactions.
PasspAY ALSO ISSUES the Japanese Yen stablecoin "JPYW". In addition to stablecoins like JPYW, PassPay also developed the "PassPay Wallet", a mobile wallet for managing various cryptocurrencies and NFTs on the blockchain.