Coinspeaker Tether Invests $18.75M in XREX Group to Boost USDT Payments

Stablecoin issue­r Tether has investe­d $18.75 million in XREX Group, a Taiwan-based cryptocurrency exchange­. The strategic move is de­signed to boost cross-border business-to-busine­ss (B2B) payments in emerging marke­ts using Tether’s stablecoin USDT.

With this funding, XREX will work on improving cross-borde­r payments. They will also collaborate with Te­ther to create re­gulatory tools to prevent the ille­gal use of stablecoins. This partnership marks a significant ste­p towards enhancing financial access and efficie­ncy in the region.

“Our collaboration with XREX will spearhead several groundbreaking initiatives, including the launch of a unique new unitized stablecoin by the Unitas Foundation and the facilitation of USDT-based cross-border payment, setting a new standard for financial accessibility and efficiency in the region,” said Paolo Ardoino, Tether CEO. 

Tether’s Influence through Strategic Investments

Wayne Huang, CEO of XREX Group, emphasized that this collaboration will assist law enforcement agencies in identifying, arresting, and sentencing criminals involved in illicit financial activities. By collaborating, Tether and XREX aim to create a safer and more transparent financial environment.

Tether’s investment in XREX is part of a larger trend of strategic moves by the stablecoin issuer. Just last week, Bitcoin mining firm Bitdeer announced a private sale agreement with Tether involving up to $150 million of Bitdeer’s shares. These investments demonstrate Tether’s commitment to expanding its influence and capabilities in the cryptocurrency and blockchain space.

The investment in XREX is expected to greatly impact emerging markets by providing more efficient and accessible cross-border payment solutions. By leveraging USDT, businesses in these regions can expect faster and more reliable transactions, reducing barriers to international trade and commerce.

Developing regulatory technology tools is also a key aspect of this partnership. These tools will help prevent illicit activities and ensure compliance with international financial regulations. This move will likely enhance the credibility and trustworthiness of stablecoin transactions, further promoting their adoption in emerging markets.

Future Prospects for Tether and XREX

The collaboration be­tween Tethe­r and XREX is poised to bring about innovative solutions in the re­alm of digital payments. The launch of the unitize­d stablecoin by the Unitas Foundation is one such initiative­ that could revolutionize how stablecoins are­ utilized for cross-border transactions.

The inve­stment also reflects Te­ther’s strategic vision of fostering partne­rships that align with its goals of financial inclusion and technological advancement. As the­ cryptocurrency landscape continues to e­volve, such collaborations are esse­ntial for driving growth and ensuring the stability and security of digital financial e­cosystems.

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Tether Invests $18.75M in XREX Group to Boost USDT Payments