Tether and Fizen Partner to Expand Global Use of Digital Assets

Today, Tether, the virtual currency company behind the USDT stablecoin, announced a strategic investment in Fizen, a fintech company focused on digital asset payments and privacy-focused crypto wallets. The investment underscores Tether’s commitment to promoting advanced solutions to facilitate financial applications and the security of digital currency networks.

Fizen is a fintech company that provides innovative payment technology designed to enable smooth stablecoin transactions and make digital assets easy for individuals and businesses to use. Fizen is a digital asset company dedicated to helping individuals and businesses easily adopt digital assets and apply them to their daily lives.

Improving Financial Inclusion with Digital Assets

According to the World Bank, millions of people around the world still do not have access to banking services. These people often cite the distance to nearby financial institutions and the lack of required documents as key factors that prevent them from accessing traditional banking services.

With Tether’s strategic investment, Fizen will further expand its blockchain technology to enable seamless integration of stablecoins across multiple blockchain networks. In addition, the investment also enables Fizen to provide users with efficient and convenient trading solutions to help them invest, hold and trade digital assets using stablecoins. Convenient trading solutions can help people break through the barriers caused by limited access to financial services and meet their financial needs.

Leveraging alternative digital payment methods

In addition to leading global financial inclusion, the partnership also aims to achieve global coverage using alternative digital payment methods.

Stablecoins provide a powerful alternative for people outside the traditional financial system with their advantages such as near-instant transactions, greater security, and lower gas fees. However, despite these advantages, the application of stablecoins in daily business activities still faces challenges. For example, the use of stablecoins by merchants remains a significant barrier.

Therefore, Fizen hopes to fill this gap through this partnership by enabling users to efficiently settle payments using stablecoins. In addition, the fintech company also plans to enable merchants to achieve instant fiat settlement through mainstream payment methods such as card readers and QR codes. These digital payment methods not only eliminate the need for additional infrastructure, but also make crypto payments more seamless and convenient for businesses around the world.

Market forecasts predict that global QR code payments will exceed $3 trillion in 2024, up from $2.4 trillion in 2022. Factors driving this growth include: increased mobile phone penetration, a surge in mobile payments, widespread use of QR codes in various applications, and a growing demand for simplified, secure, and efficient digital transactions.

Tether’s partnership with Fizen aims to accelerate the mass adoption of digital asset payments in the era of convenient digital transactions.

Conclusion

In short, the combination of Fizen’s infrastructure and Tether’s expertise in the field of stablecoins will accelerate the global adoption of digital assets and further enhance Tether’s role in promoting the development of blockchain finance and its contribution to international financial inclusion.