Tether, a key player in the digital asset market, has announced a new investment of $18.75 million in XREX Group, a fully regulated blockchain-based financial firm. This partnership is set to drive innovation in the digital asset industry, facilitating cross-border payments through USDT in new markets and enhancing regulatory technology.
Tether’s Investment of $18.75M in XREX Group to Foster Financial Inclusion in Emerging Markets
Following the infusion of funds from Tether, XREX aims to provide compliant cross-border B2B payments in emerging markets utilizing USDT. This move is poised to revolutionize financial transactions by offering businesses greater convenience, speed, and potentially lower fees. Additionally, XREX intends to collaborate with the Unitas Foundation to introduce XAU1, a USD-anchored unitized stablecoin supported by Tether Gold (XAUt). This stablecoin will offer customers a stable alternative and a hedge against inflation.
The partnership is also expected to drive innovation in Regulatory Technology (RegTech), delivering solutions to identify and prevent the illicit use of stablecoins. Tether’s commitment to responsible financial oversight aligns with XREX’s mission to establish a secure, user-friendly, and trustworthy environment for cryptocurrency users in rapidly expanding markets.
Paolo Ardoino, Chairman of Tether, emphasized that this strategic investment in XREX Group showcases Tether’s dedication to advancing financial inclusion and development in emerging markets globally. Ardoino highlighted that the advanced USDT Foundation will introduce a unique versatile stablecoin and facilitate cross-border USDT-based payments.
Tether’s Investment in XREX Poised to Revolutionize Global Financial Systems
Wen Huang, CEO of XREX Group, noted that the collaboration has been instrumental in assisting law enforcement agencies in identifying, apprehending, and prosecuting criminals. With Tether’s robust support and investment, XREX is leveraging this successful model to develop a series of RegTech products, positioning the company as a responsible financial institution that addresses common complaints in the industry.
Winston Xiaojun Hsiao, CRO of XREX Group, expressed appreciation to Tether and other existing investors for their involvement in this funding round. Hsiao suggested that this investment could bring lasting positive changes to the global clearing and settlement systems.
This announcement underscores Tether’s ongoing efforts to promote cryptocurrency adoption in emerging markets worldwide, empowering underserved communities and fostering a more interconnected and inclusive financial landscape.