Tether invests $18.75M in XREX group to facilitate USDT-based cross-border payments and launch XAU1, a USD stablecoin backed by Tether Gold
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Promote with Leviathan NewsTether has made a $18.75 million strategic investment in XREX Group, a regulated, blockchain-enabled financial institution focused on cross-border services for businesses in emerging markets. The deal, announced on 5 June 2024, is aimed at expanding compliant USDT-based B2B cross-border payment solutions and strengthening regulatory technology for monitoring and preventing illicit activity involving stablecoins. XREX, which works closely with banks and regulators and holds a Major Payment Institution license in Singapore, plans to use the capital to scale its services for small and medium-sized businesses that face US dollar liquidity constraints in global trade. As part of the collaboration, XREX will work with the Unitas Foundation to launch XAU1, a new USD-pegged “unitized” stablecoin over-reserved with Tether Gold (XAUt), designed to offer users a dollar-denominated asset with gold-backed reserves as a potential hedge against inflation. The partnership positions USDT as the core settlement asset in XREX’s cross-border payment stack while embedding enhanced RegTech tools to align with regulatory expectations in key emerging markets. For Tether, the investment extends its strategy of promoting stablecoin adoption and financial inclusion in underbanked regions, while for XREX it provides capital and brand alignment to deepen its role as an on/off-ramp and infrastructure provider connecting traditional finance and Web3 services.
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