HWGG Capital P.L.C (“HWGGC” or “The Company”), a leading blockchain payment solutions provider licensed under Labuan Financial Services Authority (LFSA) Malaysia, is expanding its regional footprint to Singapore, Dubai and Kazakhstan. The regional expansion is expected to commence in the first quarter of 2022.
HWGG Capital was founded in 2017 to offer digital asset management services through its HWGCash App platform. HWG CASH is Asia’s first ecosystem that serves as a medium connecting both digital and traditional markets, where it enables traditional companies to scale by expanding their reach internationally with ease for accepting cross-border payment using digital currency, which can later be processed into fiat currency for settlement.
Speaking on the expansion, Mavis Mok, CEO of HWGG Capital said, “Our move to go beyond Asia Pacific will mark a milestone moment in the growth of our business as we aim to introduce our products and services to the global audiences. This is our key payment platform that spurs the adoption of blockchain for financial services among companies and individuals across the region.”
The expansion comes at a time when digital currency trends are on the climb. According to a research paper on Allied Market Research, the market size is expected to reach USD 5 billion by 2030.[1] Recent developments have shown that digital currency is more readily accepted as an official mode of payment and capital investment from international businesses across a wide range of industries. In Singapore, the government has a clear strategy on regulating the cryptocurrency market and this regulatory framework has reassured crypto investors in the country.[2]
“Our objective is to provide better support to our customers across Asia Pacific, Middle East, Africa, South Asia, and Europe regions through the establishment of our new subsidiary companies. The advanced framework and well-placed regulatory measures in these countries are integral to create a digital currency-friendly environment. We welcome the opportunity to work with companies looking for expertise in offering financial services from digital currency related space, such as payments & settlements, investment, and remittance, under a secure and protected manner,” added Mok
