Largest issuer of stablecoin, Tether has entered into a strategic partnership with Fizen, a fintech company focused on self-custody crypto wallets and digital payments. In a Tuesday’s blog post, Tether confirmed the development. It is worth noting that the partnership underscores the stablecoin issuer’s commitment to providing innovative solutions that encourage financial accessibility and security in the digital asset ecosystem.
Tether’s partner, Fizen is designed with cutting-edge payment technologies that facilitate smooth stablecoin transactions, enhancing the accessibility of digital assets for both consumers and businesses. The fintech company also plays a vital role in delivering real value to both consumers and businesses, bringing practical crypto use cases to reality.
More details on the strategic investment from Tether
Through the partnership, users will also gain access to a more efficient and user-friendly solution to store, transfer, and transact using stablecoins, thus eliminating the complications arising from documentation. In addition, the partnership also seeks to accelerate digital asset utilization by combining Fizen’s innovative technology with Tether’s leadership in the stablecoin industry.
Despite it clear advantages which include lower fees, enhanced security, and fast processing speed, stablecoin still faces difficulty with regard to merchant usage. Fizen aims to tackle this difficulty by allowing merchants to enjoy instant fiat payment settlement through convenient method like QR codes and card readers. As revealed, this method eradicates the need for additional infrastructure, thus making digital asset payments more accessible and efficient for businesses worldwide.
Notably, this development came barely a month after the Securities and Exchange Commission in Thailand accepted Tether USDT as an approved cryptocurrency. As revealed, the adoption of USDT in the region was geared towards providing investors with increased flexibility and a wide range of options, fostering a more dynamic and resilient industry.
Also in February, Tether invested in Juventus Football Club (“Juve”), by acquiring a minority stake in the club. With this collaboration, Tether aimed to elevate the interaction between sports and digital assets. In addition, Tether planned to explore ways to incorporate its digital assets, payment solutions, and recently acquired expertise in AI and biotechnology into the sports industry.
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