Tether Announces Strategic Investment And Launch of XAU1 Stablecoin
Tether, the digital asset company behind the USDT stablecoin, has announced a strategic investment of $18.75 million in XREX Group and the launch of a new stablecoin, XAU1.
The collaboration aims to improve cross-border business-to-business (B2B) payments and innovate the digital asset industry and regulatory technology.
Tether’s CEO, Paolo Ardonio, stated that the partnership will spearhead several ground-breaking initiatives, including the launch of a unique new unitized stablecoin by the Unitas Foundation and the facilitation of USDT-based cross-border payments.
XREX’s investment will enable XREX to facilitate regulatory-compliant, USDT-based cross-border B2B payments.
The development promises businesses efficiency and potentially lower costs when transacting across borders.
Ardonio emphasized the significance of the partnership, stating that Tether’s strategic investment signifies their unwavering commitment to fostering financial inclusion in emerging markets.
(With inputs from Shikha Singh)
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