WadzPay Secures S$50 M Commitment from GEM for Public Listing

Singapore-based blockchain solutions provider WadzPay Worldwide has announced a capital commitment of SGD 50 million (US$36.7 million) from New York-based investment firm GEM Global Yield. This agreement, structured as a shared subscription facility (SSF), allows WadzPay to call on GEM to purchase shares up to the agreed amount, contingent upon a successful public listing within the next three years.

WadzPay plans to use the funds for growth initiatives, including acquisitions, partnerships, and organic development. The company offers SaaS solutions for virtual asset-based transaction processing, serving clients across sectors such as governments, financial institutions, and telecommunications.

Anish Jain, Founder and CEO of WadzPay, emphasized the significance of the partnership, stating, "GEM will support WadzPay as we pursue our public listing and expand our global reach."