Tether-backed SQRIL plugs stablecoin payments into Thailand's PromptPay and Cambodia's KHQR networks

Tether funding its own last-mile USDT distribution via Plan B VC while SQRIL discloses zero transaction volume across 10 markets — that's a tell. PromptPay has near-universal merchant penetration in Thailand with 70M+ registered IDs, so the distribution is there if SQRIL can actually settle through those rails, but BOT payment service provider licensing is non-trivial and conspicuously absent from every press release. Nobody's asking what spread SQRIL takes on the THB/USDT forex leg either, and that's where the margin lives.

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