As part of a calculated strategy to improve the effectiveness of international transactions, Tether has revealed a large $18.75 million investment in XREX Group. This capital infusion demonstrates Tether’s dedication to promoting innovation in the global payment ecosystem. Through this partnership, Tether hopes to strengthen and streamline the international payment infrastructure with XREX, a business recognized for its state-of-the-art financial technology solutions. This investment provides faster and more dependable cross-border money transfers.
Promoting Innovation in the Sector of Digital Assets
The biggest player in the digital asset space, Tether, has revealed a strategic $18.75 million investment in XREX Group, a fully regulated financial institution with blockchain technology. This partnership aims to promote innovation in the digital asset space, namely in regulatory technology advancement and USDT-based cross-border payments in emerging nations. With the support, XREX will enable compliant, USDT-based cross-border B2B payments in developing economies, transforming the financial services industry by providing companies with increased simplicity, effectiveness, and maybe cheaper costs. In addition, XREX and the Unitas Foundation will collaborate to introduce XAU1, a unitized stablecoin linked to the US dollar that is over-reserved with Tether Gold (XAUt). This will offer users a reliable substitute and a safeguard against inflation.
Through this partnership, regulatory technology (RegTech) will see a surge in innovation, improving methods for identifying and stopping the unauthorized usage of stablecoins. Tether’s adherence to prudent financial stewardship aligns with XREX’s objective of creating a trustworthy, safe, and open environment for all cryptocurrency users in developing nations. Paolo Ardoino, CEO of Tether, stated, “Tether’s strategic investment in XREX Group signifies our unwavering commitment to fostering financial inclusion in emerging markets.” “Our partnership with XREX will lead multiple innovative projects, such as the introduction of a distinctive new unitized stablecoin by the Unitas Foundation and the easing of cross-border USDT-based payments, establishing a new benchmark for accessibility and effectiveness in the financial sector in the area.”
Increasing Access to Finance and Compliance
Law enforcement agencies have already used Tether and XREX’s effective partnership to help identify, apprehend, and sentence offenders. With strong support and investment, XREX Group is growing Tether’s success into a RegTech product line, further solidifying XREX Group as a responsible financial company. “We are gratefTether’s and all cinvestors support of this up round, which included the issue of new team (common) shares to help our recruitment of top personnel.
The Taiwanese Government National Development Fund, CDIB Capital Group, SBI Holdings, E.Sun Financial Holding, ThreeD Capital, AppWorks, BlackMarble, and New Economy Ventures are notable investors in XREX. Before acquiring the Major Payment Institution license from the Monetary Authority of Singapore, XREX Singapore conducted business under the Registered VASP status from the Taiwan Financial Supervisory Commission.
