Tether, a leading 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 space by facilitating cross-border payments through USDT in emerging markets and enhancing regulatory technology.
Tether’s investment in XREX Group is set to revolutionize cross-border B2B payments in emerging markets using USDT. This will provide businesses with greater convenience, speed, and potentially lower fees. Additionally, XREX plans to collaborate with the Unitas Foundation to launch XAU1, a USD-anchored stablecoin backed by Tether Gold (XAUt), offering customers a stable option to safeguard against inflation.
The partnership will also focus on advancing Regulatory Technology (RegTech) solutions to detect and prevent illegal use of stablecoins. Tether’s commitment to responsible financial oversight aligns with XREX’s mission to create a safe and trustworthy environment for cryptocurrency users in rapidly expanding markets.
Paolo Ardoino, Chairman of Tether, emphasized that the investment in XREX Group demonstrates Tether’s dedication to promoting financial inclusion and growth in emerging markets globally. The collaboration is expected to introduce innovative cross-border USDT-based payment solutions and a unique compound stablecoin through the USDT Foundation.
Wen Huang, CEO of XREX Group, highlighted the success of their cooperation in supporting law enforcement efforts and transitioning into a responsible financial institution with Tether’s backing. Winston Xiaojun Hsiao, CRO of XREX Group, expressed appreciation for Tether and other investors’ involvement in the funding round, foreseeing positive changes in global clearing and settlement systems in the long term.
This strategic investment by Tether in XREX Group has the potential to transform global financial systems and drive cryptocurrency adoption in underserved communities worldwide. It marks a significant step towards a more interconnected and inclusive financial landscape.