The post Tether (USDT) Invests $1.5 Million in Sorted Wallet to Boost Financial Inclusion appeared on BitcoinEthereumNews.com.

Alvin Lang Sep 19, 2024 15:56 Tether invests $1.5M in Sorted Wallet to enhance financial inclusion in emerging markets, focusing on Africa and Southern Asia. Tether Operations Limited, a leading entity in the digital asset industry, has announced a strategic investment of $1.5 million in Sorted Wallet, a platform designed to provide easy access to cryptocurrencies for users in emerging markets. This investment aims to enhance financial inclusion across Africa and Southern Asia, according to tether.io. Enhancing Financial Inclusion Sorted Wallet offers secure and accessible cryptocurrency transactions, bridging the gap for unbanked and underbanked individuals in developing regions. Catering to users with limited access to advanced technology, the platform is specifically designed for feature phones and low-powered smartphones. It provides a non-custodial wallet that promotes economic empowerment and financial inclusion. This initiative aligns with Tether’s mission to improve global financial accessibility in areas with little or no banking infrastructure. Cryptocurrency as a Tool for Financial Inclusion Cryptocurrency is emerging as a crucial tool for financial inclusion in Africa and Southern Asia, where there is limited access to traditional banking services. In Africa, crypto has penetrated key markets and become important to many residents’ daily lives. Central & Southern Asia and Oceania (CSAO) boast one of the world’s most dynamic cryptocurrency markets. As of June 2023, India leads the region in transaction volume, receiving an estimated $268.9 billion in crypto assets. In both regions, cryptocurrency enables faster, more affordable remittances, provides an alternative to unstable local currencies, and offers investment opportunities. Despite regulatory concerns, crypto adoption continues to grow as people seek more efficient financial solutions. For those with only basic mobile phones, cryptocurrency is their gateway to the global financial system. Statements from Key Figures “This investment underscores Tether’s commitment to advancing financial inclusion and economic empowerment in underserved regions,”…

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Filed under: News - @ September 19, 2024 4:23 pm