According to official news, Tether announced a strategic investment of $18.75 million in XREX Group, a fully regulated blockchain financial institution. The cooperation aims to promote innovation in the digital asset industry, promote USDT-based cross-border payments in emerging markets, and innovate regulatory technology.
XREX will use the new funds to promote compliant, USDT-based cross-border B2B payments in emerging markets, and transform financial transactions by providing businesses with a more convenient, efficient and low-cost way. In addition, XREX will work with the Unitas Foundation to launch XAU1, a unit stablecoin pegged to the US dollar and over-reserved by Tether Gold (XAUt).