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CLPS Incorporation (the "Company" or "CLPS") (NASDAQ:CLPS), today announced, through its wholly-owned Hong Kong subsidiary, Qinson Credit Card Services Limited ("QCC"), the integration of major stablecoin payment and settlement functions into its core credit card system, CAKU. A stablecoin is a type of digital financial instrument that uses crypto-native programmable contracts to maintain price stability by being pegged to a real-world asset, such as a fiat currency.
This strategic move is a significant step for CLPS in bridging established payment networks with the digital currency ecosystem. It aims to provide issuing banks, merchants, and consumers with enhanced payment flexibility, faster transaction speed, and lower costs. The new functionality is expected to be rolled out first to potential clients in Hong Kong SAR and eventually to key international markets.
The upgrade leverages CAKU's advanced scenario-driven NextGen platform to enable corporate and individual users to pay credit card bills, settle point of sale transactions, and manage credit limit with stablecoins, including U.S. Dollar Coin (USDC), Tether (USDT), and other fiat-pegged digital assets. Users can effortlessly apply digital assets to everyday payment activities while still enjoying the convenience and rewards of payment cards.
Posted In: CLPS
