Tether, a key player in the digital asset market, has announced a new investment of $18.75 million in XREX Group, a fully regulated blockchain-based financial firm. This partnership is set to drive innovation in the digital asset sector, facilitating cross-border payments through USDT in emerging markets and enhancing regulatory technology.
Tether’s Investment in XREX Group to Boost Financial Inclusion in Emerging Markets
Following the infusion of funds from Tether, XREX aims to offer compliant cross-border B2B payments in emerging markets using USDT. This move is poised to revolutionize financial transactions by providing businesses with greater convenience, speed, and potentially lower fees. Additionally, XREX intends to collaborate with the Unitas Foundation to introduce XAU1, a USD-anchored stablecoin supported by Tether Gold (XAUt). This stablecoin will provide customers with a stable option and a hedge against inflation.
The partnership is also expected to drive innovation in Regulatory Technology (RegTech), offering solutions to detect and prevent the illicit use of stablecoins. Tether’s commitment to responsible financial oversight aligns with XREX’s mission to create a secure, user-friendly, and trustworthy environment for cryptocurrency users in these rapidly expanding markets.
Paolo Ardoino, Chairman of Tether, highlighted that this strategic investment in XREX Group underscores Tether’s dedication to promoting financial inclusion and growth in emerging markets globally. Ardoino emphasized that the advanced USDT Foundation will launch its unique compound multifunctional stablecoin and facilitate cross-border USDT-based payments.
Tether’s Investment in XREX Poised to Revolutionize Global Financial Systems
Wen Huang, CEO of XREX Group, noted that the collaboration has been instrumental in aiding law enforcement agencies in identifying, apprehending, and prosecuting criminals. With Tether’s robust support and investment, XREX is expanding this successful approach into a series of RegTech products, positioning the company as a responsible financial institution.
Winston Xiaojun Hsiao, CRO of XREX Group, expressed appreciation to Tether and other existing investors for their involvement in this funding round, anticipating long-term positive changes in the global clearing and settlement systems.
This announcement highlights Tether’s ongoing efforts to promote cryptocurrency adoption in emerging markets worldwide, empowering underserved communities and fostering a more interconnected and inclusive financial landscape.
Tags: Tether, USDT
