According to an announcement from the Hong Kong Stock Exchange, Jingwei Tiandi (formerly Jingwei Tiandi New Century (Hong Kong) Co., Ltd.) has released additional information regarding its stablecoin payment platform, Fopay. Fopay, operated by Jingwei Tiandi New Century (Hong Kong) Co., Ltd., is a one-stop payment platform that allows users to transfer stablecoins to designated digital asset sub-custodian accounts and apply for the issuance of virtual or physical VISA prepaid cards for purchases, with settlement using custodial assets.

The platform primarily generates revenue through service fees and commissions generated by user spending. Earlier news indicated that Jingwei Tiandi had announced its entry into the crypto payment sector on July 21st, launching its first mobile payment app, Fopay.