Tether Injects $18.75 Million into XREX for Cross-Border Payment Advancements

Stablecoin titan Tether has disclosed a substantial investment of $18.75 million in XREX Group, a cryptocurrency exchange headquartered in Taiwan.

The investment is geared towards fortifying cross-border business-to-business payments in emerging economies, leveraging Tether's USDT stablecoin.

XREX and Tether Forge Alliance to Enhance Regulatory Compliance and Combat Illicit Use of Stablecoins

XREX has unveiled plans to utilize the newly acquired funds to expand its suite of payment solutions in targeted markets, fostering greater accessibility and efficiency.

Collaborating closely with Tether, XREX aims to develop regulatory technology tools to identify and prevent illicit use of stablecoins, ensuring adherence to regulatory standards and bolstering financial integrity.

Paolo Ardoino, CEO of Tether, hailed the partnership's innovation, emphasizing the joint commitment to enhancing regulatory compliance and facilitating law enforcement efforts.

Wayne Huang, CEO of XREX Group, stressed the collaboration's importance in aiding law enforcement agencies in detecting and penalizing criminal activities.

This investment aligns with Tether's broader strategic vision. Recently, Tether engaged in a private sale agreement with Bitcoin mining firm Bitdeer, potentially amounting to $150 million, showcasing Tether's proactive stance in expanding its influence and investments within the cryptocurrency landscape.