The post Tether will invest in the Kem app to promote crypto inclusion appeared on BitcoinEthereumNews.com.

Tether, leader in the digital assets and crypto sector, has announced a strategic investment of 3 million dollars in the Kem app, aimed at facilitating money transfers and improving access to financial services in the Middle East. Crypto news: the Kem app introduces Tether to facilitate money transfers in the region As anticipated, Tether Operations Limited, the leading company in the field of digital assets, has recently revealed a strategic investment of 3 million dollars in the Kem application. That is, a platform dedicated to money transfers and financial management.  This investment represents an important step in Tether’s mission to improve financial inclusion globally, with a particular focus on the Middle East region. The Middle East and North Africa (MENA) represent one of the most significant crypto economies in the world.  In particular, with an estimated on-chain value of nearly 390 billion dollars received between July 2022 and June 2023, which constitutes 7.2% of global transactions.  This region, which includes countries like Dubai and Abu Dhabi, has shown a growing interest in cryptocurrencies, making it a fertile ground for the adoption of new financial technologies. The introduction of USDT, the stablecoin of Tether, on the Kem platform aims to improve the economic conditions in various Gulf countries, including Kuwait, Bahrain, Saudi Arabia, Qatar, and Iraq. With millions of expatriates living and working in these nations, access to USDT could offer an effective solution against hyperinflation and economic instability that afflict various economies in the region. A strategic investment for economic growth The investment of Tether in Kem is seen as a strategic move to expand its presence in the Middle Eastern market.  Thanks to this collaboration, residents of the Gulf Cooperation Council (GCC) will have more convenient access to USDT, facilitating cross-border transactions and providing greater economic security. The Kem…

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Filed under: News - @ August 14, 2024 10:22 am