YY Group partners with Obita to integrate stablecoin payment system

SINGAPORE - YY Group Holding Limited (NASDAQ:YYGH), a $19 million market cap workforce solutions provider currently trading near its InvestingPro Fair Value, has signed a Memorandum of Understanding with Singapore-based Obita to integrate stablecoin payment infrastructure into its workforce solutions platform, according to a press release issued Wednesday.

The partnership aims to streamline cross-border payments for YY Group’s operations and provide faster, lower-cost payout options for gig workers and international students using the company’s platform.

YY Group plans to use Obita’s technology for intra-group financing and loan repayment, which the company expects will improve operational efficiency as it expands. For workers, the integration offers the option to hold savings in fiat-backed stablecoins as protection against local currency volatility.

"Cross-border payments are a key operational lever for scaling our global platform," said Mike Fu, Group Chief Executive Officer of YY Group. "Partnering with Obita enables us to optimize enterprise costs while delivering faster, more transparent, lower-cost settlement options." The initiative comes as YY Group reports 29% year-over-year revenue growth and maintains a healthy current ratio of 1.69, according to InvestingPro data.

The collaboration will support YY Group’s international expansion strategy across Southeast Asia, the Middle East and other growth markets, where the company intends to launch regional pilots. While the company posted an EBITDA loss of $4.9 million in the last twelve months, InvestingPro analysis reveals 12 additional key insights about YY Group’s financial health and market position that could be crucial for investors following this expansion.

Zhang Dayong, Co-founder and Chief Executive Officer of Obita, noted that YY Group’s ecosystem demonstrates where "compliant stablecoin infrastructure can deliver immediate impact."

YY Group provides on-demand staffing and integrated facility management services across multiple regions including Asia, Europe, Africa, Oceania and the Middle East. Obita specializes in enterprise-level cross-border payment and digital financial network solutions.

The announcement was made during the PayFi Summit at TOKEN2049 Singapore, where senior leaders from both companies discussed the potential of stablecoin infrastructure to transform worker payments in the gig economy.

In other recent news, YY Group Holding Limited announced the pricing of a registered offering of 6,666,668 ordinary shares at $0.60 per share, along with warrants to purchase an additional 10,000,002 ordinary shares at an exercise price of $0.80 per share. This offering is expected to generate approximately $4.0 million in gross proceeds for the company. Additionally, YY Group has expanded its reach in Southeast Asia by securing contracts with five luxury hotel clients in Thailand, including Hyatt and Sheraton. The company also launched a digital staffing platform in the Netherlands, tapping into a flexible labor market valued at over $80 billion annually. In efforts to boost investor visibility, YY Group has been named a B2i Digital Featured Company. Furthermore, the company plans to integrate regulated stablecoin-powered payments into its gig worker platform, aiming to facilitate faster and lower-cost transactions. These developments highlight YY Group’s strategic moves to expand its market presence and enhance its service offerings.

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