Wellcell Holdings (02477.HK) Makes Strategic Move into Crypto Payments – Fopay Poised to Become Hong Kong’s Web3 Trailblazer

Key Points

1. Wellcell Holdings announced the market launch of Fopay, a global low-cost digital payment solution, on July 21, 2025.

2. The launch coincides with global regulatory developments in stablecoins, including the EU’s MiCA, the U.S. Stablecoin Act, and Hong Kong’s Stablecoin Ordinance.

3. Fopay integrates with VISA’s 60-million merchant network, enabling instant stablecoin-to-fiat conversion and supports high-performance blockchains like Solana, Arbitrum, Ethereum, and BSC.

4. JPMorgan projects the compliant stablecoin payment market to exceed $5 trillion by 2027, growing at a 68% CAGR.

5. Fopay is positioned as Hong Kong’s first institutional-grade Web3 payment infrastructure, backed by Wellcell’s ecosystem and its largest shareholder, Hangfeng International.