Tether Gold

Boost

Gold

Foundation

<h2 class="wp-block-heading" id="tether-facilitating-adoption-with-its-investment-in-xrex-group">Tether Facilitating Adoption with Its Investment in XREX Group</h2> 
<p>Tether, the world’s largest stablecoin by market value, has <a href="https://tether.io/news/tether-invests-18-75m-in-xrex-group-to-drive-financial-inclusion-in-emerging-markets/" target="_blank" rel="noopener">announced a $18.75 million investment</a> in <a href="https://x.com/Tether_to/status/1798276898620936637" target="_blank">XREX </a>Group, a fully regulated, blockchain-enabled financial institution known for its cutting-edge technology solutions.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">Tether Invests $18.75M in XREX Group to Drive Financial Inclusion in Emerging Markets<br>Learn more: <a href="https://t.co/R1rs7ZPoZc" target="_blank">https://t.co/R1rs7ZPoZc</a></p>— Tether (@Tether_to) <a href="https://twitter.com/Tether_to/status/1798276898620936637?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>XREX secured this investment from notable investors, including the Taiwanese Government National Development Fund, CDIB Capital Group, SBI Holdings, E.Sun Financial Holding, ThreeD Capital, AppWorks, BlackMarble, and New Economy Ventures.</p> 
<p>This investment is part of Tether’s broader strategy to drive innovation within the global payment ecosystem, particularly in facilitating USDT-based cross-border transactions in emerging markets and advancing regulatory technology.</p> 
<h2 class="wp-block-heading" id="driving-financial-inclusion-in-emerging-markets">Driving Financial Inclusion in Emerging Markets</h2> 
<p>“Tether’s strategic investment in XREX Group signifies our unwavering commitment to fostering financial inclusion in emerging markets,” said Tether’s CEO, Paolo Ardoino. This investment aims to streamline and bolster the infrastructure for international payments through a fully regulated, blockchain-enabled financial institution.</p> 
<p>With this investment, XREX will enhance its ability to facilitate compliant, USDT-based cross-border B2B <a href="https://btc-pulse.com/beijing-asks-wechat-lower-mobile-payment-yuan-pilot/">payments</a>. It is expected to revolutionize financial transactions by offering businesses greater ease, efficiency, and potentially lower costs.</p> 
<h2 class="wp-block-heading" id="innovation-in-stablecoins-and-regtech">Innovation in Stablecoins and RegTech</h2> 
<p>Additionally, XREX plans to collaborate with the Unitas Foundation to launch XAU1, a USD-pegged unitized stablecoin over-reserved with Tether Gold (XAUt). This will provide customers with a stable alternative and a hedge against inflation.</p> 
<p>“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 payments, setting a new standard for financial accessibility and efficiency in the region,” said Ardoino.</p> 
<p>The collaboration also aims to drive innovation in Regulatory <a href="https://btc-pulse.com/franklin-templeton-bullish-blockchain-tokenization/">Technology </a>(RegTech). XREX will enhance its solutions to detect and prevent the illicit use of stablecoins, aligning with Tether’s recently released commitment to regulatory direction. Wayne Huang, CEO of XREX Group, said, “Tether and XREX have collaborated successfully to help law enforcement agencies identify, arrest, and sentence criminals.”</p> 
<h2 class="wp-block-heading" id="enhancing-talent-and-regulatory-compliance">Enhancing Talent and Regulatory Compliance</h2> 
<p>The investment will also support XREX’s top talent recruiting, facilitating a stablecoin-enabled financial inclusion movement to bring long-term, positive changes to global clearance and settlement systems.</p> 
<p>Notably, XREX Singapore recently acquired the Monetary Authority of Singapore’s Major Payment Institution license. XREX has been operating under the Taiwan Financial Supervisory Commission’s Registered VASP status, further easing its path to successfully getting investment from the Taiwanese Government National Development Fund.</p> 
<h2 class="wp-block-heading" id="tether-s-impressive-growth-amid-market-turbulence">Tether’s Impressive Growth Amid Market Turbulence</h2> 
<p>This latest investment is part of the recently announced major restructuring, which <a href="https://btc-pulse.com/crypto-isac-launched-to-bolster-web3-security/">introduced </a>four new business divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu. Each arm of the division now holds a key pillar of Tether’s direction.</p> 
<p>Notably, Tether is growing annually, with a reported net profit of $4.52 billion in Q1 2024, driven by financial gains from Bitcoin and gold and operating profits. Tether’s net equity surged to $11.37 billion as of March 31 from $7.01 billion in December 2023.</p> 
<p>Tether’s Bitcoin holdings reached 75,300 BTC, valued at over $4.38 billion, and its excess reserves total $6.3 billion, ensuring financial stability. Although Circle’s USDC recently surpassed Tether’s USDT in transaction volume, Tether remains dominant with over 68% market share and a market cap exceeding $100 billion.</p> 
<p>Notably, Tether also recently ventured into the healthcare sector with a $200 million investment in Blackrock Neurotech, solidifying their dedication even more.</p>

Tether Invests $18.75M in XREX Group to Boost Financial Inclusion and Cross-Border Payments

Table of Contents

BTC-Pulse

Other articles published on Jun 5, 2024

BNB flashes pump signal, what can be the next target?

Crypto felons SBF and Avi Eisenberg reunited in infamous NY prison

Bitcoin ETFs see $1B in inflows: Will BTC hit $74K now?

Cryptocurrency Bittensor's Price Increased More Than 4% Within 24 hours

Bitcoin Descending Within a Broadening Wedge: Here’s Why a 20% Jump Could Attract a Bearish Trend!

Bitcoin: Market Consolidation Following the 2024 Halving?

Join our free newsletter for daily crypto updates!