Stablecoin issuer Tether announced a significant investment of $18.75 million in XREX Group, a Taiwan-based cryptocurrency exchange.
Tether Invests $18.75 Million in XREX to Improve Cross-Border Payments in Emerging Markets
The move aims to support cross-border business-to-business payments in emerging markets using Tether's USDT stablecoin.
In a statement, XREX announced that the new fund will support the expansion of payment solutions in these markets.
The company plans to collaborate with Tether to develop regulatory technology tools designed to detect and prevent illegal use of stablecoins, ensuring a safe and compliant financial environment.
Tether CEO Paolo Ardoino emphasized the innovative nature of this partnership and said:
“Our collaboration with .
Wayne Huang, CEO of XREX Group, emphasized the importance of their joint efforts to increase regulatory compliance and support law enforcement.
The collaboration aims to help law enforcement detect, arrest and punish criminals, he said.
This investment is part of Tether's broader strategic initiative. Just last week, Bitcoin mining firm Bitdeer announced an agreement with Tether for the private sale of its shares for up to $150 million, signaling Tether's active involvement in expanding its influence and investments in the cryptocurrency space.
*This is not investment advice.