Singapore has been a hotbed of blockchain projects in the past year, resulting in successful Singapore-born cryptocurrencies such as DigixDao and Kyber Network. A call has been made by the Singapore Prime Minister Lee Hsien Loong to “simplify and integrate” e-payment services. SGPay is one such project borne from the ideas of innovation and integration. It aims to integrate numerous services into one platform, a digital wallet service for both cryptocurrencies and fiat currencies.
Our SGPay Token is built on the Ethereum blockchain in accordance with the ERC-20 standard. The SGPay Token (or SGP in short) is built as a utility token to be used on our primary platform SGPay. It will be adopted by our technology partners and affiliated merchants.
We chose to build SGP on the Ethereum blockchain because it brings advantages such as decentralization, security, transparency and lower transaction costs. It is also the preferred blockchain network of many large corporations such as Microsoft and UBS who are part of the Enterprise Ethereum Alliance.
Our primary platform SGPay is a 3rd generation e-wallet and e-payment mobile application that allows users to buy and sell cryptocurrencies, or make purchases using both cryptocurrencies and fiat currencies. Our objective is to make SGPay the leading e-wallet and e-payments mobile application for everyone living in Singapore and the region. Customers will be able to pay for their groceries, purchase movie tickets, book flights and more with SGPay. They will also be able to select their preferred mode of payment, either in fiat currency or cryptocurrency at selected merchants.