Tether's significant $18.75 million investment in XREX will facilitate improvements in cross-border payments and regulatory technology. Users in cities like New York will soon benefit from the enhanced USDT transaction capabilities.
Tether has announced a strategic investment of $18.75 million in XREX Group to improve USDT-based cross-border payments, particularly targeting emerging markets. This partnership aims to enhance compliant business-to-business payments and innovate in regulatory technology.
Tether's investment will support the launch of XAU1, a stablecoin pegged to the USD and backed by Tether Gold (XAUt), which is designed to provide a hedge against inflation. The collaboration is expected to streamline transaction processes and reduce operational costs, leveraging XREX’s regulatory and financial expertise.
Wayne Huang, CEO of XREX, highlighted the success of past collaborations with Tether, which included assisting law enforcement in criminal cases. This new venture will further establish XREX as a responsible financial institution in the regulatory technology space.
XREX's recent achievements include acquiring a Major Payment Institution license from the Monetary Authority of Singapore, which complements its existing regulatory registrations. This investment is part of Tether’s broader strategy to diversify its portfolio into sectors such as data, finance, power, and education.
Tether has also recently invested $100 million in Bitdeer Technologies, aiming to bolster Bitcoin mining infrastructure and R&D capabilities.
