Tether has announced a $1.5 million investment in Sorted Wallet in a move that is being described as boosting their presence in Africa and Southern Asia.
Sorted Wallet is said to be a platform that serves the under/non-banked segment of the population. The application is designed for feature phones or low powered smartphones. The non-custodial wallet is said to align Tether’s mission for financial inclusion.
Tether notes that in Africa, crypto has emerged as a way to move value. In Asia, this holds true as well. As of June 20223, India is said to have booked an estimated $268.9 billion in crypto assets.
Tetther CEO Paolo Ardoino said they goal is to make certain everyone can securely manage and utilize cryptocurrency, regardless of the technology available.
The $1.5 million investment is expected to be utilized to help Sorted expand its reach.