Tokyo-based digital payments firm PassPay has formed a strategic alliance with EOS Network Foundation (ENF) to explore the development of new financial products using blockchain technology. This partnership comes at a time when EOS Network is experiencing a resurgence, thanks to improvements in its EVM that have made it easier for DeFi developers to build on the platform.PassPay aims to leverage the benefits of blockchain technology, such as irreversible transactions and an immutable ledger, while addressing the drawbacks that have hindered its use in payment processing, such as unpredictable and high network fees. By working with ENF and the EOS blockchain, PassPay will gain access to infrastructure optimized for high transaction volume and low fees.As part of the agreement, PassPay will integrate its wallet, PassPayWallet, with EOS Network, enabling the development of payment solutions on EOS rails. PassPay also plans to create new financial services and tokens on EOS, allowing users to access EOS-based tokens within the wallet application and send them onchain at minimal cost.PassPay’s mission is to increase the utility and spendability of cryptocurrencies in real life. To achieve this, the company has issued JPYW, a stablecoin pegged to the Japanese Yen, which can be stored and sent using PassPay Wallet. PassPay also supports NFTs within its multi-cryptocurrency wallet and intends to expand the use cases for JPYW, potentially developing savings and finance applications on EOS Network.Under the leadership of the EOS Network Foundation, EOS Network has been thriving. The foundation has dedicated resources to enhancing the EOS EVM, improving compatibility between EOS Native and EOS EVM. The recent upgrade also introduced support for trustless USDT bridging, enabling the use of stablecoins in DeFi applications on EOS.EOS is positioning itself as a host for decentralized finance on blockchain rails that are not dependent on other entities. This stability in network pricing allows developers to create scalable applications without compromising user experience. Through collaborations with companies like PassPay, the ENF is drawing attention to the revitalized EOS Network and attracting new users interested in exploring its potential in the multi-chain era.

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Information	Details
Geography	Asia
Countries	🇯🇵
Sentiment	positive
Relevance Score	1
People	None
Companies	PassPay, EOS Network Foundation (ENF)
Currencies	EOS, Japanese Yen, Tether
Securities	None