Tether invests in Fizen to enhance stablecoin usage through self-custody wallets and digital payments, promoting financial inclusion - IcoHolder.

Tether has announced a strategic investment in Fizen Limited, a fintech company specializing in self-custody wallets and digital payments, aiming to enhance the real-world usage of stablecoins and provide financial solutions to the unbanked.

This partnership is designed to simplify crypto payments for both businesses and consumers. Fizen’s technology enables users to store, transfer, and spend stablecoins easily through self-custody wallets, with features like QR codes and card readers. These innovations allow businesses to accept stablecoins and receive instant fiat settlements without needing to invest in complex infrastructure, making digital payments more accessible to a wider range of users.

According to the World Bank’s Global Findex Report, millions of people around the world remain unbanked due to lack of access to financial institutions or necessary documentation. Tether’s investment in Fizen aims to address these challenges by scaling the company’s blockchain technology, driving the adoption of stablecoins across multiple platforms and helping to bridge the gap for those without traditional banking services.

Despite the advantages of stablecoins, including fast and inexpensive transactions, merchant adoption has remained a hurdle. Fizen’s user-friendly payment system offers a solution, allowing for smoother integration of stablecoin payments into everyday purchases. The company’s approach is poised to open new doors for stablecoin use, especially as QR code payments are expected to surpass $3 trillion globally by 2024, coupled with the rising number of smartphone users worldwide.

Tether’s CEO, Paolo Ardoino, emphasized that the investment reflects the company’s goal of making digital financial solutions accessible to everyone. He highlighted that self-custodial setups are key to making stablecoins practical for everyday use. The partnership marks a significant step forward for Tether’s USDT stablecoin and its broader mission to promote financial freedom and inclusion.