Tether, a key player in the world of digital assets, has announced a new investment of $18.75 million in XREX Group, a fully regulated financial firm operating on the blockchain. This partnership is set 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 aims to revolutionize cross-border B2B payments in emerging markets through the use of USDT, providing businesses with increased convenience, speed, and potentially lower fees. Additionally, XREX plans to work with the Unitas Foundation to introduce XAU1, a stablecoin pegged to the USD and backed by Tether Gold (XAUt), offering customers a stable option to safeguard against inflation.
This strategic investment is expected to foster innovation in RegTech solutions, enabling the detection and prevention of illicit activities involving stablecoins. Tether’s commitment to responsible financial oversight aligns with XREX’s mission to create a secure, user-friendly environment for cryptocurrency users in rapidly expanding markets.
Paolo Ardoino, Chairman of Tether, emphasized the company’s dedication to promoting financial inclusion and development in emerging markets worldwide. He highlighted the USDT Foundation’s plans to introduce a unique, versatile stablecoin and facilitate cross-border USDT payments.
Wen Huang, CEO of XREX Group, noted the successful cooperation with law enforcement agencies in combating criminal activities and expressed gratitude for Tether’s support in developing RegTech solutions. Winston Xiaojun Hsiao, CRO of XREX Group, thanked Tether and other investors for their involvement in the funding round, anticipating positive long-term changes in global clearing and settlement systems.
This investment signifies Tether’s ongoing efforts to expand cryptocurrency adoption in emerging markets, empowering underserved communities and fostering a more inclusive financial landscape.