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Tether invests $18.75 million in XREX Group to improve financial inclusion
According to Tether, the largest company in the digital asset industry, announced a strategic investment of $18.75 million in XREX Group, a fully regulated and blockchain-enabled financial institution. tether.io. This collaboration aims to foster innovation in the digital asset sector and facilitate USDT-based cross-border payments in emerging markets.
Investment details and objectives
With Tether’s investment, XREX will work to facilitate compliant, USDT-based cross-border B2B payments, revolutionizing financial transactions by offering businesses greater ease, efficiency and potentially lower costs. Additionally, XREX plans to partner with the Unitas Foundation to launch XAU1, a unitized stablecoin pegged to the US dollar and over-reserved to Tether Gold (XAUt), providing customers with a stable alternative and hedge against inflation.
RegTech Innovations
This partnership will also spur innovation in regulatory technology (RegTech), improving solutions to detect and prevent illicit use of stablecoins. Tether’s commitment to responsible financial management aligns with XREX’s commitment to promoting a safe, accessible and trusted environment for all cryptocurrency users in emerging markets.
“Tether’s strategic investment in XREX Group demonstrates our ongoing commitment to advancing financial inclusion in emerging markets,” said Paolo Ardoino, CEO of Tether. “Our collaboration with . This latest investment aligns with Tether’s long-term vision of building a resilient infrastructure that extends beyond the boundaries of the cryptocurrency market.”
Collaboration and future projects
XREX CEO Wayne Huang highlighted the collaborative efforts between Tether and XREX in helping law enforcement identify, arrest and convict criminals. “With Tether’s strong support and investment, we are expanding this success into a RegTech product line that further refines XREX Group as a responsible financial institution,” Huang said.
Winston Hsiao, CRO of XREX Group, expressed gratitude towards Tether and existing investors for supporting their efforts to fuel the recruitment of top talent. “This financial inclusion movement enabled by stablecoins will bring long-term, positive changes to existing global clearance and settlement systems,” Hsiao noted.
Impressive investor lineup
XREX boasts an impressive lineup of investors, including the Taiwanese government’s National Development Fund, CDIB Capital Group, SBI Holdings, E.Sun Financial Holding, ThreeD Capital, AppWorks, BlackMarble, and New Economy Ventures. XREX Singapore recently acquired the Major Payment Institution License from the Monetary Authority of Singapore, while XREX operates under the registered VASP status of the Financial Supervisory Commission of Taiwan.
Today’s announcement highlights Tether’s ongoing efforts to drive cryptocurrency adoption in emerging markets around the world, empowering underserved communities who share the company’s vision of a more interconnected and inclusive financial landscape.
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