Founded in 2007, Ueeshop supports SMB and Enterprise, B2B and B2C businesses in building their own eCommerce webstore via SaaS solutions on cross-border selling and provide over 232 templates for building websites with online commerce capabilities for over 25,500+ Ueeshop merchants who process over 10 billion in volumes annually. The solution is now able to streamline payment processing experiences with premier Web3 company, HamBit, by facilitating a next generation of revenue booster to add on innovative payment solutions with Ueeshop to further advance real-time payments for Ueeshop merchants by combining within the stable-coin ecosystem and Central Bank Digital Currencies CBDCs.

This partnership allows merchants to provide their suppliers and customers to easily convert fiat to stable coins and CBDCs to make global trade and payments available 365 days a year in real-time.

Over the last few years, stable coins have continued to make headlines. Stablecoins are designed to have a value that is much more fixed than other assets because they are pegged to other assets, such as the US dollar or gold. And stablecoin demand is surging: From October 2020 to October 2021, the total value of stablecoin assets grew by roughly 495%, according to The Block. Tether (USDT), with a current market cap of $20.5B, was the first widely adopted stablecoin and mostly used as a tool for traders.
 
Central Bank Digital Currency (CBDC) acting as stablecoin equivalent digital sovereign version of a country’s fiat currency via Central Banks, with Bank of International Settlements BIS Innovation Hub, who stated in its May 2022 paper updates earlier surveys with latest responses from 81 central banks have accelerated the work on CBDCs, with more than two thirds of central banks are likely to issue a retail CBDC in the short or medium term.

Using HamBit and Ueeshop for managing inventory and processing transactions with USDT equivalent to USD, is significantly cheaper and faster than using bank transfers or debit and credit cards. USDT also makes it easier for restaurant businesses to operate globally serving 2.56 billion Gen Z customers, who have become about one-third of the global population.

The focus of the partnership will commence in the savvy Gen Z young users demand access space to seamless digital payments whilst merchants want fast, secure and low cost payments with protection from fraud and chargebacks. Merchants transacting with consumers globally find traditional web2 solutions to be expensive, inefficient and overly cumbersome with high fraud risk or low conversion rates. In partnership, HamBit will provide a more secure, seamless solution through stable coins and CBDCs and its network of real time payment solutions with the Saas solutions by Ueeshop.

Digital payments are evolving with new technologies like the blockchain as well as the emergence of real-time payment networks and Ueeshop is excited to partner with HamBit to provide greater flexibility, security and transparency. Consumers enjoy the control and availability of a stable coin solution, while merchants are able to provide services without delay or interruption.

With HamBit upgrading the traditional web2 fiat channels globally to Web3 payment, Hambit will be providing consumers and merchants with API integration to their websites, PC and mobile app to interact with secure digital wallets used by Gen Z customers on the blockchain and enabling seamless transactions leveraging stable coins.

“HamBit has been working to democratise the use of Web3 payment using stable coins and CBDC’s across the globe to provide a better and more efficient way of handling payments globally. Stable coins and CBDCs are real time payments that provide merchants and customers more confidence and security. Working with Ueeshop, HamBit can easily provide the best user experience of USDT QR Code between digital currencies and traditional lifestyle payments. For example, eCommerce cross border clearing and settlement by digital currency like USDT then convert back to fiat currency within 1 day.” said SinChee Saw, Chief Commercial Officer of HamBit.

Burgeromics refers to the Economist Big Mac Index, which tracks purchasing power parity, based on the cost of a McDonald's Big Mac. In metadata, HamBit is a new measure to track the purchasing power of Gen Z, an ecosystem of innovative payment solutions focused on web3.0. Starting from Web3, with a superior geographical presence in the web3 payment roadmap, HamBit uses the world's first AI anti-fraud risk control system language processing algorithm based on natural language processing to ensure safe and stable point-to-point transactions, and has the ability to expand elastically through the cloud every day. It can process calculations of about 1 million transactions per second, supports various stable currency types, and serves 2.2 million people around the world. It has begun to use digital currency to move towards the new web3.0 metaverse era.

For more information about HamBit, please visit www.hambit.io