YY Group & Obita Team Up to Boost Financial Access for Gig Workers in Emerging Markets
Yahoo Group, a Singapore-based company, has joined forces with Hong Kong's Obita to enhance financial access for gig workers, especially in emerging markets. The partnership, announced at the PayFi Summit during TOKEN2049 Singapore, aims to optimize cross-border payment solutions.
Yahoo Group will integrate Obita's stablecoin-based payment infrastructure into its workforce platforms and corporate operations. This will support receivables, payables, and treasury management, enabling the company to manage cross-border capital flows more efficiently. The platform includes enterprise-level controls like role-based approvals and real-time transaction monitoring.
For platform users such as international students and gig workers, Obita's technology will provide faster and lower-cost payouts. Users can also choose to hold savings in fiat-backed stablecoins, mitigating currency volatility.
Through this collaboration, both companies aim to improve financial access for gig workers in emerging markets. Yahoo Group will benefit from Obita's streamlined cross-border settlement infrastructure, maintaining regulatory compliance and security. The partnership is set to enhance Yahoo Group's cross-border payment capabilities and provide better financial services to its users.
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