Cross-border payments startup XREX has secured $18.75 million from Tether to enhance USDT-based payments in emerging markets. The Taipei-based firm, founded by Wayne Huang and Winston Hsiao, aims to revolutionize B2B payments with this investment.
Founded in 2018, XREX plans to use the funds to facilitate compliant, efficient, and cost-effective cross-border transactions. The collaboration includes launching XAU1, a stablecoin backed by Tether Gold, to hedge against inflation.
Notable investors in XREX include the Taiwanese Government National Development Fund and SBI Holdings. This investment follows XREX Singapore obtaining a license from the Monetary Authority of Singapore.
For Tether, this is part of a broader strategy to expand internationally, including recent investments in Eastern Europe and the UAE. This initiative underscores Tether’s commitment to promoting financial accessibility and efficiency in emerging markets.
