- Tether invests $18.75M in XREX Group, bolstering innovation in transactions.
- XREX aims to revolutionize financial transactions with Tether’s backing.
- XAU1 introduces a stablecoin alternative, underpinned by Tether Gold, facilitating stability.
Tether has recently announced that it will invest $18.75 million in XREX Group in an effort to further enhance the efficiency of cross-border transactions.
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This move demonstrates Tether’s dedication to supporting innovation in the global payment ecosystem. The investments’ aim is to strengthen the infrastructure that supports international remittances and facilitates smooth transactions worldwide.
The partnership will specifically concentrate on developing regulatory technology and enabling cross-border remittances based on USDT, especially in developing nations.
Tether’s strategic investment of $18.75 million in the blockchain-enabled financial institution XREX Group highlights a collaborative effort to promote innovation in the digital asset space.
Equipped with Tether’s funding, XREX is ready to transform financial transactions by providing businesses with compliant, USDT-based cross-border B2B payments in emerging markets. These payments will be more efficient, easier, and maybe cheaper for businesses.
Additionally, XREX and the Unitas Foundation will launch XAU1, a stablecoin pegged to the US dollar that is unitized with Tether Gold (XAUt). This stablecoin alternative seeks to provide a hedge against inflation, giving businesses and users a more stable financial instrument.
In addition to supporting innovation in Regulatory Technology, the partnership between XREX and Tether will improve solutions that detect and prevent the illegal use of stablecoins.
Tether’s CEO, Paolo Ardoino, expressed excitement about the strategic investment and emphasized how it could advance financial inclusion in developing countries. He gave a brief overview of upcoming creative projects, such as the Unitas Foundation’s creation of a new unitized stablecoin and the USDT-based cross-border payment facilitation.
With Tether’s large investment and XREX’s dedication to innovation and legal compliance, the partnership has the potential to completely change the cross-border transaction market and establish new standards for financial accessibility and efficient operation.
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