Tether invests $18.75 million in XREX to enhance the online asset space

Tether has invested $18.75 million in XREX Group to improve the overall online asset space and initiate global payments with USDT. In addition, Tether plans to introduce inventive innovative regulatory technology. 

For the uninitiated, Tether is known as the largest company in the online asset space, while XREX is a certified and blockchain-led financial entity.

Through the funds received, XREX will strive to enable global USDT-oriented B2B payments, thereby transforming the financial landscape. The company will also collaborate with the Unitas Foundation to introduce XAU1, a USD-controlled united stablecoin with Tether Gold (XAUt), offering users a balanced substitute and protection from inflation. 

This exclusive partnership will foster innovation in regulatory technology and enhance services pertaining to identifying and preventing the improper use of stablecoins.

According to Tether’s CEO, Paolo Ardoino, their partnership with XREX is a step in encouraging finance involvement in the coming markets. The partnership with XREX will pave the way for numerous innovative projects, such as the Unitas Foundation’s debut of a novel unitized stablecoin and the establishment of USDT-based cross-border payments, which will revolutionize the region’s financial accessibility and efficiency. Their joint vision is to go beyond the crypto space and make finance more all-inclusive. 

According to Wayne Huang, CEO of XREX Group, Law enforcement agencies have benefited from the partnership between Tether and XREX in terms of identifying, apprehending, and sentencing offenders. Following this accomplishment, XREX Group has expanded into a RegTech product line, further solidifying its position as a responsible financial institution, thanks to Tether’s significant support and investment.

The CRO of XREX Group, Winston Hsiao, profoundly appreciates Tether and other investors for their unwavering support, which will not be in vain. He has faith that the current worldwide settlement and clearance systems will undergo a lasting and beneficial transformation as a result of the financial inclusion movement made possible by stablecoins.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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