Verso has signed its first partnership with a regulated financial institution – Wallet Engine based out of Singapore. Wallet Engine powers embedded wallets within various apps, such as gaming, streaming, travel and many more.
This partnership will support our vision of embedding DeFi and other microfinance products into the existing user experience of regulated digital wallets. This enables Verso to scale and reach people across frontier and emerging markets. Wallet Engine operates in-app wallets across multiple apps with a pipeline forecasting 100 million in-app wallets by 2025.
Our Vision: enabling DeFi and microfinance in 100 million in-app wallets by 2025
Wallet Engine has identified early adopter apps who will participate in the first phase of the Verso roll-out with a focus on delivering the first DeFi product to a regulated in-app wallet by end of 2021. We are now working on the integration roadmap and will announce further details about these early adopter apps soon.
About Wallet Engine:
Wallet Engine is a regulated financial institution that embeds micropayment services into regular apps with a fully customizable in-app wallet infrastructure. Traditionally speaking peer-to-peer payment solutions have a domestic focus. Wallet Engine helps businesses grow internationally without restricting their in-app payment capabilities to local markets. Unlike partnering with banks or other local wallets, Wallet Engine is fully white-labelled and enables apps to offer branded financial products, retaining full customer ownership (KYC, data, etc.), and scale across borders without any additional integrations. Customers are even able to set up their own fee structure.