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HomeNewsTether Invests $18.75M in XREX to Revolutionize Cross-Border Payments

Tether Invests $18.75M in XREX to Revolutionize Cross-Border Payments

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  • Tether’s $18.75 million investment in XREX aims to drive RegTech innovation and financial inclusion.
  • XREX will launch the USD-pegged stablecoin XAU1, providing a stable alternative against inflation.

The third-biggest cryptocurrency by market capitalization, Tether, has invested a substantial $18.75 million strategically in XREX Group, a fully regulated, blockchain-enabled financial company.

In addition to creating cutting-edge regulatory technology solutions, this partnership seeks to innovate within the digital asset sector and enable USDT-based cross-border payments in developing countries.

Tether: Driving Innovation and Efficiency 

Tether’s significant funding will allow XREX to provide compliant, USDT-based cross-border B2B payments in developing nations. With this change, financial transactions should become much easier, more efficient, and maybe less expensive for companies.

Together with the Unitas Foundation, XREX will introduce XAU1, a USD-pegged stablecoin over-reserved with Tether Gold (XAUt), offering users a steady substitute and an inflation hedge.

Regulatory Technology (RegTech) will see major innovation thanks to the Tether and XREX collaboration. Improving methods to identify and stop stablecoin usage illegally is the aim.

Tether and XREX are committed to providing a secure, reliable, and easily accessible environment for all cryptocurrency users in developing countries.

Tether CEO Paolo Ardoino underlined the company’s steadfast dedication to promoting financial inclusion in emerging regions.

He underlined that a number of ground-breaking projects will result from the partnership with XREX, such as the introduction of XAU1 and the ease of USDT-based cross-border payments.

The long-term goal of Tether to develop robust infrastructure outside of the cryptocurrency business is in line with this calculated investment.

Successful Collaboration with Law Enforcement 

The CEO of XREX Group, Wayne Huang, highlighted the effective partnership between Tether and XREX in supporting law enforcement organizations. Criminals have been identified, apprehended, and sentenced, thanks in part to this collaboration.

Tether’s substantial investment and assistance are enabling XREX to extend this success into a new RegTech product line, therefore enhancing the reputation of XREX Group as a responsible financial company.

Winston Hsiao, CRO of XREX Group, thanked Tether and other current investors for their support. He pointed out the new team shares that were issued with the intention of luring elite players.

The financial inclusion drive made possible by stablecoins is expected to improve global clearance and settlement systems over the long run.

Prominent Investors and Regulatory Approvals 

The impressive list of investors for XREX includes CDIB Capital Group, SBI Holdings, E.Sun Financial Holding, ThreeD Capital, AppWorks, BlackMarble, and New Economy Ventures.

While XREX works under the Registered VASP status of the Taiwan Financial Supervisory Commission, it just obtained the Major Payment Institution license from the Monetary Authority of Singapore.

Tether’s Broader Investment Moves

Tether International Limited previously, as ETHNews reported, financed Bitdeer through a private placement of up to $150 million.

This calculated action demonstrates even more of Tether’s aggressive investment and expansion plan in the crypto market. With a market cap of $112.310.801.111 as of right now, Tether trails just Ethereum and Bitcoin.

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Syofri
Syofri
Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628
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