As a seasoned crypto investor with a keen interest in the digital asset industry’s advancements, I am thrilled to witness Tether’s latest strategic move. The $18.75 million investment in XREX Group signifies an important step towards enhancing cross-border transactions’ efficiency and reliability.
As a crypto investor, I’m excited to share that Tether, the stablecoin giant, has made a strategic move by investing $18.75 million in XREX Group. By doing so, Tether is demonstrating its dedication to driving innovation within the global payment ecosystem. This partnership with XREX, a leading fintech company renowned for its advanced financial technology solutions, is designed to improve cross-border transactions’ efficiency. The investment will enable us to enjoy faster and more reliable international fund transfers, enhancing our overall crypto investment experience.
Driving Innovation in the Digital Asset Industry
Tether, the leading company in the digital asset sector, has made an strategic investment of $18.75 million in XREX Group, a financially regulated organization specializing in blockchain technology. This partnership intends to foster innovation within the digital asset industry, focusing on enhancing USDT-based cross-border payments in emerging markets and improving regulatory tech. With Tether’s investment, XREX will enable compliant, USDT-based B2B transactions across borders in emerging markets, simplifying financial exchanges for businesses by providing more convenience, efficiency, and potentially reduced costs. Furthermore, XREX is teaming up with the Unitas Foundation to introduce XAU1, a stablecoin pegged to the US dollar and backed by Tether Gold (XAUt), offering clients an alternative currency and protection against inflation.
Through our partnership, we’ll advance innovation in RegTech, improving tools to identify and stop the misuse of stablecoins like Tether. Tether’s responsible financial management aligns with XREX’s mission to create a secure, convenient, and trusted crypto ecosystem for users in developing countries. According to Paolo Ardoino, CEO of Tether, “Our investment in XREX Group underscores our firm commitment to expanding financial accessibility in emerging markets.” By collaborating with XREX, we’ll launch pioneering projects such as a new unitized stablecoin from the Unitas Foundation and enable USDT-powered cross-border transactions, setting new standards for convenience and efficiency in the region.
Expanding Financial Inclusion and Compliance
As a researcher studying the partnership between Tether and XREX, I can tell you that we’ve had a productive history of working together to help law enforcement agencies bring criminals to justice. With Tether’s backing and investment, XREX is now developing a RegTech product line, enhancing our reputation as a trustworthy financial institution. I’d like to express my gratitude to Tether and all our investors for their continued support during this funding round. This round included the issuance of new common shares, which will enable us to recruit top talent and further strengthen our team.
XREX boasts an impressive roster of investors, such as the Taiwanese Government National Development Fund, CDIB Capital Group, SBI Holdings, E.Sun Financial Holding, ThreeD Capital, AppWorks, BlackMarble, and New Economy Ventures. In Singapore, XREX has obtained the Monetary Authority’s Major Payment Institution license, while it continues to operate under the Registered VASP status of the Taiwan Financial Supervisory Commission.
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2024-06-05 12:25