According to PANews, Tether, a stablecoin issuer, has announced a strategic investment of $18.75 million in XREX Group, a fully regulated blockchain financial institution. The collaboration aims to drive innovation in the digital asset industry, promote cross-border payments based on USDT in emerging markets, and innovate regulatory technology.
With Tether's funding, XREX will promote USDT-based compliant cross-border B2B payments in emerging markets. This initiative will revolutionize financial transactions by providing businesses with greater convenience, efficiency, and lower costs. In addition, XREX will collaborate with the Unitas Foundation to launch XAU1, a unitized stablecoin pegged to the dollar. This stablecoin is over-reserved by Tether Gold (XAUt), providing customers with a stable alternative and a tool to hedge against inflation.
The collaboration will also drive innovation in regulatory technology, enhancing solutions to detect and prevent the illegal use of stablecoins.