YY Group adopts Obita’s stablecoin platform for gig payments

Obita has entered into a memorandum of understanding with YY Group for the integration of stablecoin payment infrastructure into YY Group's global gig workforce platforms and corporate operations.

The partnership will see YY Group adopt Obita's enterprise-level cross-border payment solution, which is designed with features such as role-based approvals and real-time transaction monitoring to ensure compliance and security in line with regulatory standards. This infrastructure aims to offer scalable and reliable payment rails for both receivables and payables, as well as treasury management, within the group's global operations.

Obita's infrastructure has been engineered for enterprise use, with a particular focus on addressing the challenges associated with cross-border settlements. According to Obita, the system aims to provide a compliant and intuitive platform, based on stablecoin technology, suitable for both gig workers and enterprises. The emphasis is on supporting financial inclusion, especially in emerging markets, through secure and streamlined payment methods.

"YY Group represents exactly the type of large-scale, real-world ecosystem where compliant stablecoin infrastructure can deliver immediate impact," said Dayong Zhang, Co-founder and Chief Executive Officer of Obita. "Our collaboration highlights how technology and regulation can work hand in hand to make cross-border payouts efficient, secure and inclusive."

The integration aims to enhance YY Group's management of cross-border capital flows, including processes such as intra-group financing and loan repayments. This development is expected to result in improved operational efficiency and margin enhancement as YY Group continues to grow internationally. On the user side, this infrastructure is set to provide gig workers and international students with the ability to receive faster and more cost-effective payouts. Workers will also have the option to hold earnings in fiat-backed stablecoins, providing a hedge against fluctuations in local currency markets. YY Group expects that such features will contribute to stronger engagement and higher retention rates across its gig workforce communities.

The company also highlighted that simplified cross-border settlements are a key component of YY Group's broader strategy for international expansion, with regional pilot programmes planned for Southeast Asia, the Middle East, and other emerging markets.

"Cross-border payments are a key operational lever for scaling our global platform. Partnering with Obita enables us to optimise enterprise costs while delivering faster, more transparent, lower-cost settlement options to the hundreds of thousands of workers and clients we support worldwide" stated Mike Fu, Group Chief Executive Officer of YY Group. "This positions YY Group to scale more efficiently, strengthen our margins and accelerate our global expansion initiatives."

Senior leadership from both companies discussed their partnership and the broader potential for stablecoin-enabled payment systems at a major payment conference in Singapore. Both organisations highlighted the potential for compliant stablecoin infrastructure to facilitate financial inclusion measures for gig workers globally, particularly those in regions currently underserved by traditional financial channels.

Obita develops payment infrastructure that enables seamless settlement across a range of global markets, combining both stablecoin and fiat rails within a compliant framework with real-time monitoring and advanced controls. The company's solutions are adopted by enterprises seeking secure, compliant, and robust payment flows that accommodate complex operational requirements. The stated goal is to reduce costs and operational burdens for clients, while supporting broader financial inclusion initiatives.

YY Group is a Singapore-based platform that offers workforce solutions and integrated facility management, with operations spanning Asia, Europe, Africa, Oceania, and the Middle East. The group provides services to industries including hospitality, logistics, retail, and healthcare, and leverages IoT technology and proprietary digital systems to address client requirements in managing labour demand and operational environments.