IPwe Announces a Capital and Business Partnership with ADVASA
Accelerating global rollout of Earned Wage Access (EWA) service, solving issues for both workers and employers, and improving wellbeing.
IPwe, Inc. (HQ: Delaware, CEO: Erich Spangenberg) announces a capital and business partnership with ADVASA Co., Ltd. (HQ: Tokyo, CEO: Asamitsu Kosugi), a provider of “Earned Wage Access” service to accelerate ADVASA’s global business development around EWA by leveraging IPwe’s powerful intellectual property platform and extensive corporate patent monetization knowledge and experience worldwide.
IPwe’s Smart Intangible Asset Management platform, a B2B SaaS platform built on blockchain technology and artificial intelligence that provides business leaders access to understandable financial metrics about their intellectual property portfolios, identified ADVASA as a leading innovator in payroll access technologies. ADVASA’s patent portfolio is a critical component enabling instant payroll access, which allows employees to select their payday and receive payment as soon as the following day, often referred to as “On-Demand Pay” or “Earned Wage Access (EWA)” technology. Earned Wage Access is already a successful emerging technology globally, with the U.S. EWA market valued at $12 billion in 2021.
After IPwe’s AI platform and patent monetization experts analyzed ADVASA’s portfolio and successfully identified the unknown value drivers therein, the companies created a partnership to scale ADVASA’s business globally across Earned Wage Access markets.
By partnering with IPwe, ADVASA can transact their EWA portfolio quickly and at a low cost, efficiently allowing companies worldwide to create Earned Wage Access systems. ADVASA and IPwe believe that EWA will become the standard method of payroll, with streaming wage payments that “flow” into a bank account, card, or e-wallet at the end of each workday or shift, greatly reducing the burden on employees and making employers better able to attract top talent in a tight market, creating a positive cycle for employers, employees, and society overall.
In addition, after successfully circulating Fiat currency in the EWA economy, ADVASA is now constructing a means of value transfer using cryptocurrencies. As the world enters the Web3 era and cryptocurrencies begin to connect with today’s global financial infrastructure, the connection of cryptocurrencies to EWA technology is also necessary. Accordingly, ADVASA will be generating tokens utilizing the trusted and proven Casper blockchain technology and know-how that are at the core of IPwe’s innovations in the IP field. ADVASA believes that the synergies it has created with IPwe will greatly accelerate the realization of financial inclusion, which has been ADVASA’s goal since the beginning.
“We are thrilled to announce our partnership with ADVASA,” said IPwe CEO Erich Spangenberg. “IPwe utilized our Smart Intangible Asset Management platform to analyze ADVASA’s portfolio, identifying areas of growth to expand ADVASA’s global business objectives. ADVASA is an early adopter of IPwe’s powerful platform in the Japanese market, and we are proud to provide ADVASA with better insights, metrics, and recommendations to better manage its IP portfolio. IPwe looks forward to announcing more partnerships in Japan in the coming months”.
“IPwe works with governments, academic institutions, and enterprise companies around the world to drive innovation in the IP field and build a platform for the world’s patent ecosystem, and it is the best partner for the global expansion of ADVASA’s “EWA” solution and its related patent portfolio.” said ADVASA CEO Asamitsu Kosugi. “The reasons for the rapid growth of EWA in other countries are rampant, as seen by the current paradigm shift of payroll cycles. With the ban on digital payroll scheduled to be lifted in Japan in FY2023 and the growing momentum of change in the way people receive their salaries, ADVASA is pleased to be working with IPwe to contribute to the creation of a sustainable society through EWA solutions that create positive effects for employers, employees, and societies around the world”.
Founded in 2018, IPwe is a global platform leveraging the power of artificial intelligence and blockchain technology around smart intangible asset management. IPwe is expanding traditional IP markets by increasing transparency with clear and verifiable metrics to lower costs and enhance value and returns. Through IPwe, everyone from startups to large enterprises, business and financial executives to IP experts, can collaborate on a business, technical, legal, or financial level to enhance efficiency, value, opportunities, and innovation to better manage their intangible assets. Innovation matters. Manage it better. IPwe.
Providing a benefit payment service called “FUKUPE” that serves as a platform for various financial services by offering employees immediate access to their salaries for their work at any time, and providing cashless receipt and settlement at any wallet, card, not to mention bank accounts. ADVASA is also developing a partnership strategy by providing OEM services to financial institutions, etc. and licensing patents for its EWA of pay in advance scheme.
In the global market, we are building an infrastructure for a token economy utilizing blockchain technology, adopting cryptocurrencies as a traditional means of receiving paychecks and as incentives for workers. With the benefits generated by this new mechanism being returned to society as a whole, our platform is being developed to achieve financial inclusion in which no one is left behind.
Company name: ADVASA Corporation
CEO: Asamitsu Kosugi
Location: Akasaka K Tower 4F, 1-2-7 Motoakasaka, Minato-ku, Tokyo
Establishment: April 2017
Capital: 1,050,000,022 JPY (including capital reserve)
Business: Development of a system to provide funding to workers
Development and OEM provision of funding systems for workers
Development of systems for Fintech, AI, blockchain, etc.