HomeNEWSTether invest in XREX Group to enhance cross-border payments

Tether invest in XREX Group to enhance cross-border payments


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Renowned digital asset stablecoin issuer, Tether has announced a strategic investment of $18.75M in blockchain-chain-enabled financial institution, XREX Group. Tether confirmed the partnership in a post on Monday, stating that it would drive innovation in the digital asset industry.

The announcement further revealed that the collaboration will further promote USDT-based cross-border payment in emerging crypto markets and innovate regulatory technology. With the $18.75M from Tether, XREX will facilitate compliant USDT-based cross-border B2B payment. In addition, XREX plans to revolutionize financial transactions by offering greater ease to businesses, efficiency, and potentially lower costs.

Similarly, XREX also plans to collaborate with Unitas Foundation to launch XAU1, a USD-pegged Unitized stablecoin over-reserved with Tether Gold (XAUt). This according to the announcement is to provide customers with a stable alternative and hedge against inflation.

The partnership between Tether and XREX will also ensure innovation in Regulatory Technology (RegTech). This innovation will provide solutions to ensure detection and prevention of illicit use of stablecoins. Worth noting that the stablecoin issuer vision aligns with XREX commitment to providing a safe, accessible, and trusted environment for crypto users.

Meanwhile, the CEO of Tether, Pablo Ardoino noted that the collaboration marks a significant milestone in Tether’s groundbreaking initiatives. He further that the partnership aligns with Tether’s long-term vision of building resilient infrastructures that extends to various industry structures.

The CEO of XREX group, Wayne Huang has also reacted to the partnership. According to him, the partnership will go a long way in helping law enforcement agencies to identify, arrest and sentence crypto money launderers. Huang further that XREX group is expanding the success into RegTech product line.

Tether invests in Blackrock Neurotech to aid treatment of neurological patients

In April, Tether through its venture arm, Tether Evo invested $200 million in Blackrock Neurotech, a biotech enterprise. As revealed, the partnership was geared towards providing funds for medical solution that will aid the treatment of people suffering from neurological issues. In addition, the investment was made in order to provide assistance to millions of people suffering form paralysis, lost function, and neurological disorders across the globe.

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Dare Ibitoye
Dare Ibitoye
Over the years, Dare has been a committed reporter in the field of cryptocurrencies. He is also interested in researching about the innovative projects within the blockchain space. During his spare time, Dare loves to listen to music and read about technological trends in the contemporary world

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