Quick take:
- The investment also allows Fizen to offer a more efficient and user-friendly solution for storing, transferring and transacting in stablecoins.
- It will allow users to pay seamlessly using stablecoins while merchants receive instant fiat settlements through popular payment methods like QR codes and card readers.
- Both companies are looking to bridge the gap between traditional finance and digital assets by offering a solution to the unbanked.
Tether has announced a strategic investment in self-custodial and crypto payments provider Fizen. The investment enables Fizen to facilitate the seamless integration of stablecoins across multiple blockchains, allowing users to easily store, transfer, and transact in stablecoins.
While users enjoy seamless payments using stablecoins, merchants receive instant fiat settlements through popular payment methods like QR codes and card readers.
The collaboration seeks to bridge the gap between traditional finance and digital assets by offering a solution to the unbanked.
Commenting on the announcement, Paolo Ardoino, CEO of Tether, said: “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.”
According to Ardoino, the enhancement of the self-custodial payment infrastructure space plays a crucial role in driving real-world use cases of crypto.
“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,” he said.
Leo Vu, Founder and CEO of Fizen.io, highlighted the important role stablecoins like Tether’s USDT will play in driving crypto payments and financial inclusion globally.
“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 realising they are using blockchain technology,” said Vu.
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