Key Takeaways:
- Tether’s investment in Fizen seeks to address financial exclusion.
- Fizen’s platform supports digital transactions for consumers and businesses.
- By using Fizen’s technology, users can store, transfer, and transact with stablecoins like USDT.
- The investment will allow Fizen to improve its blockchain capabilities.
Tether, the issuer of the world’s largest stablecoin, announced on Tuesday that it has made an investment in Fizen Limited, a fintech company specializing in self-custody crypto wallets and digital payments.
In a blog post, Tether said it seeks to advance payment technologies that facilitate seamless stablecoin transactions.
Fizen offers advanced payment technologies that facilitate seamless stablecoin transactions, making digital assets more accessible for consumers and businesses.
By allowing users to pay with stablecoins while merchants receive instant fiat settlements through familiar methods like QR codes and card readers, Fizen is looking to bridge the gap between cryptocurrency and traditional payment systems.
Tether said this approach will eliminate the need for additional infrastructure, making digital asset payments more accessible and efficient for businesses worldwide .
The World Bank’s Global Findex Report reveals that millions of individuals worldwide remain unbanked, often due to distance from financial institutions and lack of proper documentation.
Investment Will Be Used to Improve Fizen’s Blockchain Capabilities
Tether said its investment will allow Fizen to improve its blockchain capabilities, facilitating the seamless integration of stablecoins across multiple blockchain ecosystems.
This will provide users with a more user-friendly way to store, transfer, and transact using stablecoins, getting rid of restricted access or complicated documentation .
Tether explains despite the advantages of stablecoins—such as lower fees, improved security, and near-instant transactions—their practical use in everyday commerce still faces hurdles, particularly in merchant adoption.
Tether’s CEO Speaks About The Investment
“Tether’s investment in Fizen underscores our commitment to expanding global access to efficient and reliable digital financial solutions that promote the informed responsible use of digital assets in everyday life,” said Paolo Ardoino, CEO of Tether.
“At Tether, we recognize the crucial role of self-custodial payment infrastructure in driving real-world use cases. Fizen’s innovative model helps to bridge the gap between self-custody and digital payments, empowering users with greater financial independence while reinforcing our leadership as the most widely used stablecoin globally, advancing inclusive access to the financial system,” Ardoino added.
“Stablecoins like USDT will undoubtedly drive crypto payments and financial inclusion worldwide,” said Leo Vu, Founder and CEO of Fizen.io.
“The technology infrastructure is already in place, but we lack consumer-friendly applications with intuitive UI/UX to accelerate mass integration. Fizen is solving this by making crypto payments an intuitive part of daily transactions, allowing users to pay seamlessly without even realizing they are using blockchain technology,” Vu added.
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