Stablecoin issuer Tether has announced an $18.75 million investment in XREX Group, a blockchain financial institution headquartered in Taiwan. XREX Group plans to use the new funds to further promote cross-border payments in USDT in emerging markets and also plans to cooperate with Tether to develop regulatory technical tools to detect and prevent illegal use of stablecoins. XREX will partner with the Unitas Foundation to launch the XAU1 stablecoin, a dollar coin that uses Tether Gold (XAUt) for excess reserves.

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