- Tether announced a strategic $1.5 million investment in Sorted Wallet on September 19.
- Sorted Wallet will use the funding to expand its services across Africa and Southeast Asia.
- Tether is the company behind the leading stablecoin USDT.
Tether has invested $1.5 million in Sorted Wallet, a cryptocurrency wallet platform focused on increasing crypto adoption in emerging markets.
In an announcement on Thursday, September 19, Tether said the strategic investment in Sorted Wallet is intended to promote financial inclusion across Africa and South Asia.
“This investment underscores Tether’s commitment to advancing financial inclusion and economic empowerment in underserved regions,” said Paolo Ardoino, Tether’s chief executive officer.
Financial inclusion
According to Tether’s CEO, backing Sorted Wallet will help bring more people using basic mobile phones into the crypto ecosystem.
The support opens new opportunities that allow more users to integrate digital asset services into their broader financial lives.
Many of these potential users are unbanked in emerging markets and stand to benefit significantly from greater access to financial services.
“Our goal is to ensure that everyone, regardless of location or the type of phone they use, can securely manage and benefit from cryptocurrencies, empowering them to build a more secure financial future and participate actively in the growing digital economy,” the Tether executive added.
Sorted Wallet targets expansion
Sorted Wallet is a non-custodial wallet that enables users to access digital asset financial services using feature phones or low-power smartphones.
Tether’s $1.5 million investment will support Sorted Wallet’s expansion efforts in both Africa and Southeast Asia. As the issuer of the world’s largest stablecoin, USDT, Tether plays a significant role in the cryptocurrency space.
The company has been working to broaden the use of its stablecoin globally through a variety of initiatives. In recent months, Tether has partnered with multiple platforms and institutions to support blockchain and crypto adoption through educational programs.