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 aims to drive innovation in the digital asset sector, facilitating cross-border payments using USDT in new markets and enhancing regulatory technology.
The collaboration between Tether and XREX is set to revolutionize cross-border B2B payments in emerging markets, making transactions more compliant and efficient with the use of USDT. Additionally, XREX plans to work with the Unitas Foundation to introduce XAU1, a USD-anchored stablecoin backed by Tether Gold (XAUt), providing customers with a stable option to safeguard against inflation.
The partnership will also focus on advancing Regulatory Technology (RegTech) solutions to detect and prevent the illegal use of stablecoins, ensuring responsible financial oversight. Paolo Ardoino, Chairman of Tether, emphasized the commitment to promoting financial inclusion and development in emerging markets, highlighting the potential for the USDT Foundation to create a versatile stablecoin for cross-border payments.
Wen Huang, CEO of XREX Group, praised the cooperation with Tether in assisting law enforcement and expressed confidence in the impact of this investment on global financial systems. Winston Xiaojun Hsiao, CRO of XREX Group, thanked Tether and other investors for their support, anticipating positive changes in global clearing and settlement processes.
This strategic move by Tether signifies its dedication to expanding cryptocurrency adoption in emerging markets, empowering underserved communities and fostering a more interconnected financial landscape.
