Tether, a prominent player in the digital asset market, has announced a new investment of $18.75 million in XREX Group, a fully regulated financial firm based on blockchain technology. 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.
Tether’s Investment in XREX Group to Boost Financial Inclusion in Emerging Markets
Following the infusion of funds from Tether, XREX is focused on offering compliant cross-border B2B payments in emerging markets utilizing USDT. This move is poised to transform financial transactions by providing businesses with greater convenience, speed, and potentially lower fees. Additionally, XREX is gearing up to collaborate with the Unitas Foundation to introduce XAU1, a stablecoin pegged to the USD and backed by Tether Gold (XAUt). This stablecoin is designed to offer customers a stable alternative and a hedge against inflation.
Moreover, the partnership is 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 establish a secure, user-friendly, and reliable environment for cryptocurrency users in rapidly expanding markets.
Paolo Ardoino, Chairman of Tether, highlighted that the strategic investment in XREX Group underscores Tether’s dedication to promoting financial inclusion and development in emerging markets globally. He emphasized that the advanced USDT Foundation will introduce a unique multifunctional stablecoin and facilitate cross-border payments based on USDT.
Tether’s Investment in XREX Group 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 extending this successful approach to a series of RegTech products, positioning the company as a responsible financial institution that addresses common concerns in the industry.
Winston Xiaojun Hsiao, CRO of XREX Group, expressed appreciation to Tether and other existing investors for their contribution to this funding round, foreseeing positive long-term changes in the global clearing and settlement systems.
This development underscores Tether’s ongoing efforts to drive cryptocurrency adoption in emerging markets worldwide, empowering underserved communities and fostering a more interconnected and inclusive financial landscape.