Tether Announces Investment in XREX Group, a Blockchain-enabled Financial Institution

Tether, which claims to be the largest company in the digital asset industry, has announced a strategic investment of $18.75M in XREX Group, a fully regulated, blockchain-enabled financial institution.

This collaboration aims to drive innovation “in the digital asset industry, facilitate USDT-based cross-border payments in emerging markets, and innovate regulatory technology.”

With Tether’s funding, XREX will facilitate “compliant, USDT-based cross-border B2B payments in emerging markets, revolutionizing financial transactions by offering businesses greater ease, efficiency, and potentially lower costs.”

Additionally, XREX will work with “the Unitas Foundation to launch XAU1, a USD-pegged unitized stablecoin over-reserved with Tether Gold (XAUt), providing customers with a stable alternative and a hedge against inflation.”

This collaboration will drive innovation “in Regulatory Technology (RegTech), enhancing solutions to detect and prevent illicit use of stablecoins.”

Tether’s commitment to responsible financial stewardship aligns “with XREX’s dedication to fostering a safe, accessible, and trusted environment for all crypto users in emerging markets.”

Paolo Ardoino, CEO of Tether said:

“Tether’s strategic investment in XREX Group signifies our unwavering commitment to fostering financial inclusion in the emerging markets. Our collaboration with XREX will spearhead several ground-breaking initiatives, including the launch of a unique new unitized stablecoin by the Unitas Foundation and the facilitation of USDT-based cross-border payments, setting a new standard for financial accessibility and efficiency in the region. This latest investment aligns with Tether’s long-term vision of building a resilient infrastructure that extends beyond the confines of the crypto market, as demonstrated by our diversified investments in various industry sectors.”

Wayne Huang, XREX Group CEO said:

“Tether and XREX have collaborated successfully to help law enforcement agencies identify, arrest, and sentence criminals. With Tether’s strong support and investment, we’re expanding this success into a RegTech product line that further refines XREX Group as a responsible financial institution.”

Winston Hsiao, XREX Group CRO said:

“We thank Tether and all existing investors for supporting this up round, which involved an issuance of new team (common) shares to fuel our top talent recruiting. This stablecoin-enabled financial inclusion movement will bring long-term and positive change to the existing global clearance and settlement systems.”

XREX reportedly has an investor lineup “including the Taiwanese Government National Development Fund, CDIB Capital Group (TWSE: 2883), SBI Holdings (TYO: 8473), E.Sun Financial Holding (TWSE: 2884), ThreeD Capital (CSE: IDK), AppWorks, BlackMarble, and New Economy Ventures.”

XREX Singapore recently acquired “the Monetary Authority of Singapore’s Major Payment Institution license, while XREX has been operating under a Taiwan Financial Supervisory Commission’s Registered VASP status.”

Sponsored Links by DQ Promote



Send this to a friend