Tether Invests $18.75 Million in XREX for Cross-Border Payments and Regulatory Innovation
CryptoNewsTerminal Staff05 Jun, 2024
Tether Invests $18.75 Million in XREX for Cross-Border Payments and Regulatory Innovation
Tether, the issuer of the largest stablecoin USDT, has announced an $18.75 million investment in XREX, a Taiwan-based crypto financial services provider. This strategic investment aims to enhance cross-border payments and drive regulatory innovation in emerging markets. XREX offers a range of services, including fiat-to-crypto on-ramps, cross-border remittances, and business payment solutions. By integrating Tether's USDT stablecoin, XREX will leverage Tether's stability and liquidity to facilitate seamless and cost-effective cross-border transactions. The investment will also support XREX's efforts to promote regulatory compliance and foster a transparent crypto ecosystem. Tether's deep understanding of regulatory frameworks and its commitment to regulatory compliance will empower XREX to navigate the evolving regulatory landscape and establish best practices for the industry. This collaboration between Tether and XREX is expected to accelerate the adoption of cryptocurrencies for cross-border payments and pave the way for increased regulatory acceptance and innovation.
