Tether, through a collaboration with Opera, has increased access to its tokenised gold product XAUT and USDT stablecoin. MiniPay, Opera’s self-custodial wallet based on the Celo blockchain, now supports both assets following the integration.
Users in emerging regions in Africa, Latin America and Southeast Asia, where demand for dollar-based savings and payments is still high, are the target audience for this move.
With over 12 million active wallets, MiniPay is currently available in about 60 countries and only requires a mobile phone number to activate.
According to Tether, the launch of XAUT gives consumers a savings choice that is resistant to inflation in addition to stablecoins. Alongside spot gold prices, the tokenised gold asset recently reached all-time highs.
The larger stablecoin market has been shrinking amid the overall cryptocurrency decline, despite rising usage in mobile-first areas.
Exchange inflows have gone negative in recent months, according to analysts, indicating an increase in risk aversion. Nevertheless, Tether and Opera believe that increasing regular, real-world cryptocurrency payments has long-term potential.
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