Tether, one of the largest companies in the digital asset industry, announced a strategic investment of $18.75 million in XREX Group, a fully regulated and blockchain-enabled financial institution. This collaboration aims to drive transformation in the digital asset industry, facilitate USDT-based cross-border payments in emerging markets, and innovate regulatory technology.
With this funding round, XREX will facilitate compliant and USDT-based cross-border B2B payments in emerging markets, revolutionizing financial transactions by offering businesses greater ease, efficiency, and potentially lower costs. And 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 partnership will drive innovation in Regulatory Technology (RegTech), enhancing solutions to detect and prevent illicit use of stablecoins. And 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.
XREX features an impressive investor lineup, including the Taiwanese Government National Development Fund, CDIB Capital Group, SBI Holdings, E.Sun Financial Holding, ThreeD Capital, AppWorks, BlackMarble, and New Economy Ventures. And 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.
This announcement further emphasizes Tether’s ongoing endeavors to foster cryptocurrency adoption in emerging markets worldwide while empowering underserved communities that share the company’s vision of a more interconnected and inclusive financial landscape.
KEY QUOTES:
“Tether’s strategic investment in XREX Group signifies our unwavering commitment to fostering financial inclusion in emerging markets. Our collaboration with XREX will spearhead several groundbreaking initiatives, including the launch of a unique new unitized stablecoin by the Unitas Foundation and the facilitation of USDT-based cross-border payment, 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.”
- Paolo Ardoino, CEO of Tether
“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.”
- Wayne Huang, XREX Group CEO
“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.”
- Winston Hsiao, XREX Group CRO
