Tether announces a $18.75M investment in XREX Group and the launch of XAU1, a gold-backed stablecoin, to enhance cross-border B2B payments and innovate in RegTech.
Tether, the digital asset company behind the USDT stablecoin, announced a strategic investment of $18.75 million in XREX Group and the launch of a new stablecoin, XAU1.
According to the company’s press release, the collaboration aims to improve cross-border business-to-business payments and innovate the digital asset industry and “regulatory technology.”“Our collaboration with XREX will spearhead several ground-breaking initiatives, including the launch of a unique new unitized stablecoin by the Unitas Foundation and the facilitation of USDT-based cross-border payments, setting a new standard for financial accessibility and efficiency in the region.
The development promises to offer businesses “efficiency and potentially lower costs” when transacting across borders.In addition to the $18.75 million investment, XREX will launch XAU1 in collaboration with the Unitas Foundation.“With Tether’s strong support and investment, we’re expanding this success into a RegTech product line that further refines XREX Group as a responsible financial institution.
Despite their design and pegged values, market dynamics, manipulations and fluctuations reveal vulnerabilities to stablecoin stability. Stablecoin regulatory clarity is required for the future, but determining which stablecoins meet MiCA regulatory requirements remains uncertain.
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