- Tether announced on September 19 that it has made a strategic $1.5 million investment in Sorted Wallet.
- Sorted Wallet will use the funding to expand its services into Africa and Southeast Asia.
- Tether is the company behind the leading stablecoin USDT.
Tether has invested $1.5 million in Sorted Wallet, a crypto wallet platform focused on increasing cryptocurrency adoption in emerging markets.
In a statement on Thursday, September 19, Tether said the strategic investment in Sorted Wallet aims to enhance financial inclusion across Africa and Southeast Asia.
“This investment underscores Tether’s commitment to promoting financial inclusion and economic empowerment in underserved regions,” said Paolo Ardoino, CEO of Tether.
Financial inclusion
According to Tether’s CEO, the investment in Sorted Wallet will help bring more people with basic mobile phones into the crypto ecosystem.
Such support unlocks new opportunities, enabling more users to integrate digital asset services into their financial lives. Many of these potential users are unbanked residents of emerging markets who stand to benefit most from improved financial inclusion.
“Our goal is to ensure everyone, regardless of location or phone type, can securely manage and use cryptocurrency, empowering them to build a safer financial future and participate actively in the evolving digital economy,” the Tether executive added.
Sorted Wallet looks to expand
Sorted Wallet is a non-custodial wallet that allows users to access digital asset finance markets 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 issuer of the world’s largest stablecoin, USDT, Tether plays a significant role in the crypto industry.
The company has expanded stablecoin usage worldwide through multiple initiatives. In recent months, Tether has formed partnerships with various platforms and institutions to support blockchain and crypto adoption through educational programs and other initiatives.