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GSI Technology, Inc. Reports Fourth Quarter and Fiscal Year 2023 Results

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SUNNYVALE, Calif., May 16, 2023 (GLOBE NEWSWIRE) — GSI Technology, Inc. (NASDAQ: GSIT), developer of the Gemini® Associative Processing Unit (APU) for AI and high-performance parallel computing (HPPC) and a leading provider of high-performance memory solutions for the networking, telecommunications and military markets, today reported financial results for its fourth fiscal quarter and fiscal year ended March 31, 2023.

 
Fourth Quarter and Fiscal Year 2023 Summary Financial Results Table
(in thousands, except per share amounts)
 
  Three Months Ended Twelve Months Ended
  Mar. 31,
2023
Dec. 31,
2022
Mar. 31,
2022
Mar. 31,
2023
Mar. 31,
2022
Net revenues $5,381 $6,447 $8,731 $29,691 $33,384
Gross margin (%) 55.9% 57.5% 58.6% 59.6% 55.5%
Operating expenses $6,879 $8,495 $8,059 $33,488 $34,890
Operating loss $(3,872) $(4,789) $(2,943) $(15,807) $(16,353)
Net loss $(3,962) $(4,812) $(3,011) $(15,977) $(16,368)
Net loss per share, diluted $(0.16) $(0.20) $(0.12) $(0.65) $(0.67)
           

Lee-Lean Shu, Chairman and Chief Executive Officer, commented, “Our focus for Gemini-I has been sharpened to prioritize near-term opportunities for applications, such as SAR and satellites, where we have a superior solution, an understanding of the market, and know whom we can support and help with our offering. Another near-term focus is vector search engines, where our APU plug-in has demonstrated enhanced performance. To this end, we have dedicated more resources and prioritized the target customers that are interested in leveraging our solution. Additionally, we are improving Searchium AI’s SaaS platform to support our go-to-market strategy for search and also advancing our L-Python compiler stack to expand future Gemini-I opportunities. Our L-Python software stack is designed to provide both Python’s development advantages and C’s high performance. Although our priority opportunities do not require a compiler, we have a beta version in use and are on track to release a production-ready version later this year.”

Mr. Shu continued, “We are on track to complete the tape-out for Gemini-II this summer and evaluate the first silicon chip by the end of 2023. We aim to bring this solution to market in the second half of 2024, offering exceptional performance improvements with reduced power consumption and latency. These features will expand the addressable market for the APU to larger markets such as edge applications, Fast Vector Search, and advanced driver-assistance systems. Recently, we were granted a new patent (US 11,604,850) for Gemini-II’s in-memory full adder, which, in combination with the 100MB processing SRAM, delivers a sustainable 1,400 Tera bits per second operations at 1.4GHz. This combination provides a best-in-class solution for AI applications like Fast Vector Search, a growing market driven by the proliferation of big data and the need for fast and accurate processing. We are having discussions with a leading AI innovator on Gemini-II’s capacity to accelerate Large Language Models, which further validates the potential value of our technology.”

Mr. Shu concluded, “Our fourth quarter revenue of $5.4 million was within our guidance range. The decline in revenue from the prior quarter reflects the impact of fluctuating customer order patterns related to the macroeconomic environment and, in some cases, inventory rationalization. The fourth quarter gross margin exceeded our guidance, primarily due to product mix. We ended the year with $30.6 million in cash, cash equivalents, and short-term investments. We have implemented our cost reduction programs and are moving ahead with the team fully committed to the success of the APU. As we move forward, we will look at additional opportunities to enhance our cash position.”

Commenting on the outlook for GSI’s first quarter of fiscal 2024, Mr. Shu stated, “Current expectations for the upcoming fiscal first quarter are net revenues in a range of $5.0 million to $5.8 million, with gross margin of approximately 57% to 59%.”

Fiscal Year 2023 Summary Financials

For the fiscal year ended March 31, 2023, the Company reported a net loss of $(16.0 million), or $(0.65) per diluted share, on net revenues of $29.7 million, compared to a net loss of $(16.4 million), or $(0.67) per diluted share, on net revenues of $33.4 million in the fiscal year ended March 31, 2022. Gross margin for fiscal 2023 was 59.6%, compared to 55.5% in the prior year. The increase in gross margin was primarily due to product mix.

Total operating expenses were $33.5 million in fiscal 2023, compared to $34.9 million in fiscal 2022. Research and development expenses were $23.6 million, compared to $24.7 million in the prior fiscal year. Selling, general and administrative expenses were $9.9 million, compared to $10.2 million in fiscal 2022. The decline in research and development expenses was primarily due to the cost reduction measures announced by the Company in November 2022.

The operating loss for fiscal 2023 was $(15.8 million) compared to an operating loss of $(16.4 million) in the prior year. The fiscal 2023 net loss included interest and other income of $202,000 and a tax provision of $372,000, compared to $(60,000) in interest and other expense and a tax benefit of $45,000 a year ago.

Fourth Quarter Fiscal Year 2023 Summary Financials

The Company reported a net loss of $(4.0 million), or $(0.16) per diluted share, on net revenues of $5.4 million for the fourth quarter of fiscal 2023, compared to a net loss of $(3.0 million), or $(0.12) per diluted share, on net revenues of $8.7 million for the fourth quarter of fiscal 2022 and a net loss of $(4.8 million), or $(0.20) per diluted share, on net revenues of $6.4 million for the third quarter of fiscal 2023. Gross margin was 55.9% in the fourth quarter of fiscal 2023 compared to 58.6% in the prior-year period and 57.5% in the preceding third quarter. The decrease in gross margin in the fourth quarter of 2023 was primarily due to the effect of lower revenue on the fixed costs in our cost of goods.

In the fourth quarter of fiscal 2023, sales to Nokia were $1.2 million, or 21.8% of net revenues, compared to $2.0 million, or 23.1% of net revenues, in the same period a year ago and $1.3 million, or 20.0% of net revenues, in the prior quarter. Military/defense sales were 44.2% of fourth quarter shipments compared to 22.3% of shipments in the comparable period a year ago and 26.2% of shipments in the prior quarter. SigmaQuad sales were 46.3% of fourth quarter shipments compared to 47.6% in the fourth quarter of fiscal 2022 and 45.2% in the prior quarter.

Total operating expenses in the fourth quarter of fiscal 2023 were $6.9 million, compared to $8.1 million in the fourth quarter of fiscal 2022 and $8.5 million in the prior quarter. Research and development expenses were $5.0 million, compared to $6.5 million in the prior-year period and $5.5 million in the prior quarter. Selling, general and administrative expenses were $1.9 million in the quarter ended March 31, 2023, compared to $1.5 million in the prior-year quarter and $3.0 million in the previous quarter.

Fourth quarter fiscal 2023 operating loss was $(3.9 million) compared to an operating loss of $(2.9 million) in the prior-year period and an operating loss of $(4.8 million) in the prior quarter. Fourth quarter fiscal 2023 net loss included interest and other income of $101,000 and a tax provision of $191,000, compared to $(47,000) in interest and other expense and a tax provision of $21,000 for the same period a year ago. In the preceding third quarter, net loss included interest and other income of $61,000 and a tax provision of $84,000.

Total fourth quarter pre-tax stock-based compensation expense was $515,000 compared to $714,000 in the comparable quarter a year ago and $654,000 in the prior quarter.

At March 31, 2023, the Company had $30.6 million in cash, cash equivalents, and short-term investments and no long-term investments, compared to $44.0 million in cash, cash equivalents, and short-term investments and $3.3 million in long-term investments at March 31, 2022. Working capital was $34.7 million as of March 31, 2023, versus $45.8 million at March 31, 2022, with no debt.   Stockholders’ equity as of March 31, 2023, was $51.4 million compared to $64.5 million as of the fiscal year ended March 31, 2022.

Conference Call

GSI Technology will review its financial results for the quarter and fiscal year ended March 31, 2023, and discuss its current business outlook during a conference call at 1:30 p.m. Pacific (4:30 p.m. Eastern) today, May 16, 2023. To participate in the call, please dial 1-800-584-2088 in the U.S. or 1-212-231-2913 for international approximately 10 minutes prior to the above start time and provide Conference ID 22026695. You may also listen to the teleconference live at www.gsitechnology.com, where the event will be archived.

About GSI Technology

Founded in 1995, GSI Technology, Inc. is a leading provider of semiconductor memory solutions. GSI’s resources are focused on bringing new products to market that leverage existing core strengths, including radiation-hardened memory products for extreme environments and Gemini-I, the associative processing unit designed to deliver performance advantages for diverse artificial intelligence applications. GSI Technology is headquartered in Sunnyvale, California, and has sales offices in the Americas, Europe, and Asia. For more information, please visit www.gsitechnology.com.

Forward-Looking Statements

The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding GSI Technology’s expectations, beliefs, intentions, or strategies regarding the future. All forward-looking statements included in this press release are based upon information available to GSI Technology as of the date hereof, and GSI Technology assumes no obligation to update any such forward-looking statements. Forward-looking statements involve a variety of risks and uncertainties, which could cause actual results to differ materially from those projected. These risks include those associated with the normal quarterly and fiscal year-end closing process. Examples of risks that could affect our current expectations regarding future revenues and gross margins include those associated with fluctuations in GSI Technology’s operating results; GSI Technology’s historical dependence on sales to a limited number of customers and fluctuations in the mix of customers and products in any period; global public health crises that reduce economic activity; the rapidly evolving markets for GSI Technology’s products and uncertainty regarding the development of these markets; the need to develop and introduce new products to offset the historical decline in the average unit selling price of GSI Technology’s products; the challenges of rapid growth followed by periods of contraction; intensive competition; delays or unanticipated costs that may be encountered in the development of new products based on our in-place associative computing technology and the establishment of new markets and customer and partner relationships for the sale of such products; GSI Technology’s ability to successfully implement its cost- reduction initiatives; the impact of GSI Technology’s cost-reduction initiatives on its business and operations, including any possible disruption of GSI Technology’s business, and the failure to realize the anticipated benefits of its cost-reduction initiatives; and delays or unexpected challenges related to the establishment of customer relationships and orders for GSI Technology’s radiation-hardened and tolerant SRAM products. Many of these risks are currently amplified by and will continue to be amplified by, or in the future may be amplified by, economic and geopolitical conditions, such as rising interest rates, worldwide inflationary pressures, bank failures, military conflicts, significant fluctuations in energy prices and declines in the global economic environment. Further information regarding these and other risks relating to GSI Technology’s business is contained in the Company’s filings with the Securities and Exchange Commission, including those factors discussed under the caption “Risk Factors” in such filings.

Source: GSI Technology, Inc.

Investor Relations
Hayden IR
Kim Rogers
Managing Director
385-831-7337
[email protected]

Media Relations
Finn Partners for GSI Technology
Ricca Silverio
(415) 348-2724
[email protected]

Company
GSI Technology, Inc.
Douglas M. Schirle
Chief Financial Officer
408-331-9802

       
GSI TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(Unaudited)
             
  Three Months Ended   Twelve Months Ended
  March 31, Dec. 31, March 31, March 31, March 31,
  2023 2022 2022   2023 2022
             
Net revenues $ 5,381   $ 6,447   $ 8,731     $ 29,691   $ 33,384  
Cost of goods sold   2,374     2,741     3,615       12,010     14,847  
             
Gross profit   3,007     3,706     5,116       17,681     18,537  
             
Operating expenses:            
             
Research & development   5,007     5,529     6,510       23,550     24,672  
Selling, general and administrative   1,872     2,966     1,549       9,938     10,218  
Total operating expenses   6,879     8,495     8,059       33,488     34,890  
             
Operating loss   (3,872 )   (4,789 )   (2,943 )     (15,807 )   (16,353 )
             
Interest and other income (expense), net   101     61     (47 )     202     (60 )
             
Loss before income taxes   (3,771 )   (4,728 )   (2,990 )     (15,605 )   (16,413 )
Provision (benefit) for income taxes   191     84     21       372     (45 )
Net loss $ (3,962 ) $ (4,812 ) $ (3,011 )   $ (15,977 ) $ (16,368 )
             
             
Net loss per share, basic $ (0.16 ) $ (0.20 ) $ (0.12 )   $ (0.65 ) $ (0.67 )
Net loss per share, diluted $ (0.16 ) $ (0.20 ) $ (0.12 )   $ (0.65 ) $ (0.67 )
             
             
Weighted-average shares used in
   computing per share amounts:
           
             
Basic   24,685     24,621     24,484       24,595     24,303  
Diluted   24,685     24,621     24,484       24,595     24,303  
             
             
Stock-based compensation included in the Condensed Consolidated Statements of Operations:
             
  Three Months Ended   Twelve Months Ended
  March 31, Dec. 31, March 31,   March 31, March 31,
  2023   2022 2022   2023 2022
             
Cost of goods sold $ 39   $ 54   $ 56     $ 202   $ 248  
Research & development   246     328     372       1,316     1,676  
Selling, general and administrative   230     272     286       951     1,069  
  $ 515   $ 654   $ 714     $ 2,469   $ 2,993  
 
GSI TECHNOLOGY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(Unaudited)
         
    March 31, 2023 March 31, 2022
Cash and cash equivalents   $ 27,212   $ 36,971
Short-term investments     3,363     6,992
Accounts receivable     3,471     4,518
Inventory     6,415     4,655
Other current assets     1,414     1,555
Net property and equipment     7,423     7,359
Long-term investments     0     3,345
Other assets     10,578     11,027
Total assets   $ 59,876   $ 76,422
         
Current liabilities   $ 7,202   $ 8,861
Long-term liabilities     1,302     3,110
Stockholders’ equity     51,372     64,451
Total liabilities and stockholders’ equity   $ 59,876   $ 76,422

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Artificial Intelligence

Invoca Wins CX Today Award for Best Conversational Intelligence Solution of 2024; Launches European Data Centre and Adds UK Sales Leader

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CX Today recognises Invoca as the foremost visionary in the Conversational Intelligence category. Additionally, expands its European presence with a new Data Centre and the appointment of Duncan MacPherson as UK Director of Sales.
LONDON, March 28, 2024 /PRNewswire/ — Invoca, the leading revenue execution platform for revenue teams, has won the CX Today Award for ‘Best Conversational Intelligence Solution’ of 2024. CX Today, the leading international news publication honouring excellence in CX technology, hosted the CX Awards to honour excellence in CX leadership, technology innovation, and industry success.

“Invoca’s exceptional work in conversational intelligence has helped push the category forward, and we are thrilled to see their accomplishments acknowledged at CX Awards 2024,” said Charlie Mitchell, Senior Editor at CX Today and host of the awards.
The award recognises Invoca’s strength in empowering revenue teams across marketing, contact centre sales, and customer experience to enhance buying experiences, increase high-value leads, and boost revenue. For businesses that acquire customers over the phone, Invoca enables these digital marketing and contact centre teams to collaborate to drive revenue growth. Invoca stands out for capturing deep insights from consumer calls and digital interactions and ingesting revenue driven by calls and other metadata from CRM and contact centre solutions, making Invoca the source of truth for consumer engagements.
“We’re thrilled to be named the Best Conversational Intelligence Solution of 2024 by CX Today as we highlight our longstanding vision to help brands acquire customers and grow their revenue,” said Gregg Johnson, CEO of Invoca. “As AI pioneers in this space, having first introduced our broad base of patented AI technologies in 2015, artificial intelligence and machine learning are core to helping companies improve the customer experience and connect the buyer journey.”
The CX Awards’ judging panel, including Dan Miller, Lead Analyst at Opus Research, reviewed hundreds of applications for their organisation’s ability to improve overall customer experience through innovation and high-impact features.
“Invoca continues to demonstrate that they are a clear leader in conversational intelligence AI. We recognised Invoca for their ability to employ a sophisticated blend of AI technologies — including patented machine learning, generative AI, voice biometrics, and deep learning neural networks, to drive revenue,” said Dan Miller, CX Awards judge and Lead Analyst at Opus Research.
Invoca Launches New European Platform and Data Centre Amid U.K. Sales Leadership Expansion
Invoca continues to reinforce its commitment to maintaining data excellence with unwavering reliability and strict adherence to security standards. Protecting customer data privacy remains a top priority, particularly given the heightened concerns surrounding security and privacy. Invoca’s new European platform and localised data centres support its growing customer base by ensuring all customers can adhere to the highest level of enterprise-grade data privacy, and GDPR compliance standards. Invoca’s powerful EU-based infrastructure enables its customers to recreate the same Invoca experience using the full feature suite while maintaining the highest standards of quality.
Invoca has also welcomed Duncan MacPherson as UK Director of Sales. MacPherson brings extensive experience with large companies and start-ups selling customer engagement solutions. This is part of an overall expansion in the UK market, which includes hiring a localised sales and customer success team, sales development, and marketing support.
More Information:
See the results you can get with Invoca’s award-winning conversation intelligence: https://www.invoca.com/customersInvoca’s GDPR Compliance: Everything You Need to Know: https://www.invoca.com/blog/invocas-gdpr-compliance-everything-you-need-to-knowWatch the CX Today Awards winners revealed on demand: www.cxtoday.com/cxawardsJoin Invoca’s talented team today: https://www.invoca.com/company/careersAbout InvocaInvoca is a revenue execution platform that connects marketing and sales teams to help them track and optimise the buying journey to drive more revenue. By using a comprehensive revenue execution platform with deep integrations with leading technology platforms, revenue teams can better connect their paid media investments directly to revenue, improve digital engagement, and deliver the best buyer experiences to drive more sales. With Invoca, top consumer brands, including AutoNation, DIRECTV, Mayo Clinic, Mutual of Omaha, and Verizon, experience unbelievable results powered by undeniable data. Invoca has raised $184M from leading venture capitalists, including Upfront Ventures, Accel, Silver Lake Waterman, H.I.G. Growth Partners, and Salesforce Ventures. For more information, visit www.invoca.com.
About CX AwardsHosted by CX Today, the awards ceremony has become the beacon of recognition for companies and professionals pushing the envelope in the CX technology sphere.
The CX Awards 2024 is here for its fourth year and is bigger and better than ever before! Winners of the 2023 awards included Vonage, Calabrio, and UJET and more. Then, the ceremony included exclusive streams from our people winners, Jay Patel from Webex and Kimberley Wood from Ultimate. Yet, this year’s event featured many more CX leaders who shared their unique takes on the space.
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ASC Achieves Certification for Webex Calling

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ASC announces compliance recording and AI-driven analytics tool for Webex Calling
HÖSBACH, Germany, March 28, 2024 /PRNewswire/ — ASC Technologies, a leading provider of comprehensive recording and analytics tools, announces its successful certification for Webex Calling with Webex by Cisco, a leading provider of collaboration technologies powering hybrid work and customer experience. This certification distinguishes ASC as one of the few global vendors who are authorized to provide record capabilities for Webex Calling communications. This capability is essential for organizations in regulated industries that must adhere to strict compliance standards.

A key benefit of the ASC solution is the simple and fast configuration in the Webex Control Hub, which ensures a high level of user-friendliness. In addition, ASC enables the migration of on-premise solutions to the cloud by seamlessly transferring recordings to the cloud environment. This step enables organizations to accelerate their digital transformation and take advantage of cloud-based services. In addition, AI-driven analytics, powered by ASC’s solutions, help organizations gain a comprehensive view of their communications, enrich customer relationships, and streamline compliance and risk management processes.
“As a stable company that has been established in the market for 60 years, we see the certification for Webex Calling not only as a confirmation of our technological expertise, but also as a promise to our customers and partners,” says Dr. Gerald Kromer, CEO of ASC. “We are committed to providing innovative and reliable solutions that meet the demands of today’s communications technologies while ensuring our customers’ compliance requirements.”
This certification is a further milestone in ASC’s successful partnership with Cisco, which has already existed for 20 years. ASC will be exhibiting at Enterprise Connect in Gaylord Palms, and Cisco Live in Las Vegas, showcasing its innovative recording and analytics solutions and demonstrating the results of its collaboration with Cisco. These events offer a glimpse into how ASC’s solutions drive efficiency and insight.
About ASC
ASC is a worldwide leading provider of software and cloud solutions in the field of omni-channel recording, quality management, and analytics. Among our target groups are all companies that record their communications, especially financial service providers, contact centers, and public safety organizations. We offer solutions for recording as well as AI-based analysis and evaluation of all communications – with full flexibility as a cloud service, on-premise or as a hybrid solution. Headquartered in Germany with subsidiaries in 14 countries and experienced system integration partners in over 60 countries, ASC is the #1 Europe-based player in its industry.
About Webex by Cisco
Webex is a leading provider of cloud-based collaboration solutions which includes video meetings, calling, messaging, events, customer experience solutions like contact center and purpose-built collaboration devices. At Webex, we start with people and their experiences first. This focus on delivering inclusive collaboration experiences fuels our innovation, which leverages AI and Machine Learning, to remove the barriers of geography, language, personality, and familiarity with technology. Our solutions are underpinned with security and privacy by design. We work with the world’s leading business and productivity apps – delivered through a single application and interface. Learn more at webex.com.
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WSPN and MathWallet Jointly Launch StableWallet, Pioneering AA Wallet for Web3

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TORTOLA, British Virgin Islands, March 28, 2024 /PRNewswire/ — WSPN, a global digital payments leader providing transparent, fast, and efficient solutions leveraging distributed ledger technology, has partnered with leading Web3 wallet provider MathWallet to launch StableWallet – a groundbreaking new account abstraction (AA) wallet that represents a major advancement in the Web3 space. StableWallet provides enhanced security, convenience, and flexibility for managing digital assets across multiple blockchains.

“Through our partnership with MathWallet, we are proud to introduce StableWallet, leveraging pioneering AA technology to transform digital asset management,” said Raymond Yuan, Founder of WSPN. “StableWallet exemplifies our commitment to driving innovation in digital payments and the Web3 ecosystem.”
Account abstraction (AA) wallets represent a significant leap forward in the Web3 ecosystem, blurring the lines between traditional private key wallets and smart contract-based accounts. By integrating both functionalities, AA wallets enable users to define their wallets through programmable smart contracts, unlocking a realm of advanced features and customization options.
Leveraging the transformative power of Account Abstraction, StableWallet stands at the forefront of security innovation, offering unmatched protection through advanced programmable recovery mechanisms and robust multi-signature controls. Seamlessly blending security with convenience, StableWallet ensures a user-centric experience by automating gas fees, simplifying transactions, and providing limitless customization possibilities through deep integration of programmable smart contracts.
Beyond its pioneering security measures, StableWallet serves as a pivotal link between the Ethereum and Polygon ecosystems, facilitating effortless asset management across diverse chains through a unified cross-chain interface. At its debut, StableWallet boasts essential features such as native support for Ethereum and Polygon networks, flexibility in fee token options with WUSD and USDT, and the capacity for multi-chain crypto smart contract wallet functionalities.
“We are thrilled to partner with WSPN and jointly unveil StableWallet’s powerful capabilities,” said Eric, CTO of MathWallet. “By combining cutting-edge account abstraction technology with robust security features and cross-chain compatibility, StableWallet empowers users to explore the decentralized realm with unparalleled confidence.”
Looking ahead, StableWallet has an ambitious roadmap to roll out new capabilities that will further elevate the user experience. Upcoming features include daily free transfers, batch transactions with one-click execution, enterprise multi-signature smart wallets, and integration with collaboration platforms, etc. These additions, among others, will continuously expand StableWallet’s functionality to meet evolving user needs in the Web3 space.
Whether for a seasoned cryptocurrency enthusiast or a beginner to the blockchain world, StableWallet offers a powerful tool to revolutionize user experience of digital asset management. Stay tuned for upcoming feature releases and network expansions as WSPN and MathWallet continue to push the boundaries of Web3 technology.
About WSPN
WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology (“DLT”). We are dedicated to shaping seamless digital payment solutions for our global partners worldwide at the frontier of future digital payments and financial inclusion.
Worldwide USD (‘WUSD’), WSPN’s flagship USD stablecoin, is a fiat-collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. Dedicated to optimizing payment solutions for web3 users, WUSD empowers the real economy through secure, transparent, and licensed digital payments, spanning stablecoins, exchanges and cards, all geared for global expansion.
Learn more: www.wspn.io  | Twitter | LinkedIn 
About MathWallet
MathWallet is the Multichain Wallet for Web3 that enables token storage of over 150 chains including BTC, ETH, Polkadot, Cosmos, Filecoin, Solana, BNBChain, etc, supports cross-chain token bridges and multi-chain dApp store. Our investors include Fenbushi Capital, Binance Labs, Fundamental Labs, Multicoin Capital, NGC Ventures, Amber Group, 6Eagle Capital.
Visit mathwallet.org for more information.
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