WadzPay Secured SGD $50 Mn in form of Share Subscription Facility

WadzPay Worldwide Pte. Ltd., a leading innovator in the blockchain technology and financial services company, announced that it has secured a capital commitment of SGD $50 million in the form of a Share Subscription Facility (SSF) from GEM Global Yield LLC SCS ("GEM"). The SSF will accelerate the company's growth strategy via acquisitions, partnerships and organic initiatives.

The agreement establishes a Share Subscription Facility granting WadzPay the option to call upon GEM to subscribe for Ordinary Shares up to a total value of SGD 50 million (approximately USD 36.7 million) upon a successful public listing for a thirty-six-month period. 

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This binding commitment underscores GEM's confidence in WadzPay's potential to positively disrupt the financial services landscape.

Anish Jain, Founder & CEO of WadzPay, said "This partnership with GEM is a powerful validation of the transformative impact WadzPay is making in the financial services and blockchain space. Securing this substantial commitment early in our journey fuels our mission and equips us with the resources to accelerate innovation and scale rapidly. We are thrilled to have GEM support as we pursue our public listing and expand our global reach".

GEM's support marks a key moment for WadzPay, showing strong confidence in its vision and direction. This investment strengthens WadzPay's position as a top player in the global financial services and blockchain industry.

About WadzPay

WadzPay was founded in 2018 in Singapore with a commitment to drive financial inclusion and revolutionise the virtual asset financial services landscape. It is a leading global blockchain-based technology provider for virtual assets. 

About GEM

GEM Global Yield LLC SCS is a $3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets across the world, having completed over 570 transactions in 70 countries. 

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