Tether, a major player in the digital asset industry and the issuer of the popular USDT stablecoin, has recently invested $18.75M in XREX Group, an innovative financial institution that operates on the blockchain and is fully regulated. The purpose of this strategic investment is to foster innovation within the digital asset industry and facilitate cross-border payments using USDT in emerging markets.
With the funding received, XREX will be able to offer businesses enhanced convenience, efficiency, and potentially lower costs when it comes to financial transactions. Additionally, in collaboration with the Unitas Foundation, XREX plans to introduce a new stablecoin called XAU1, which will be pegged to the US dollar and backed by Tether Gold (XAUT). This will provide customers with a stable alternative and a safeguard against inflation.
Furthermore, this partnership between Tether and XREX will strengthen efforts to identify and prevent any illicit use of stablecoins. By working together, they aim to develop improved solutions that can detect and deter any misuse of these digital assets.
