Tether Invests in Fizen, a Fintech Firm Focusing on Digital Asset Payments and Private Crypto Wallets

Today, Tether, a virtual currency firm powering USDT stablecoin, announced a strategic investment in Fizen, a fintech firm that focuses on digital asset payments and private crypto wallets.

Today, Tether, the virtual currency firm that powers USDT stablecoin, announced a strategic investment in Fizen, a fintech firm concentrating on digital asset payments and private crypto wallets. This investment underscores Tether's commitment to advancing cutting-edge solutions designed to foster the financial inclusion and safety of the digital currency network.

One of the digital asset firms that is enabling people and enterprises to easily adopt and use digital assets for daily life activities is the startup, which specializes in the creation of cutting-edge payment technologies designed to enable easy stablecoin trading and accessible digital asset usage among people and businesses.

According to World Bank data, millions of people worldwide still lack access to banking services. Those in this group frequently mention distance to nearby financial firms and a lack of the necessary paperwork as the main obstacles preventing them from using traditional banking services.

With Tether's strategic investment, Fizen will be able to expand its blockchain capabilities, enabling the seamless integration of stablecoins across several blockchain networks. Additionally, Fizen is well-equipped to provide people with access to effective and easy-to-use trading solutions for investing, holding, and transacting digital assets using stablecoins thanks to this investment. Easy access to such trading solutions is the power that people need to address financial needs beyond the obstacles associated with limited access to financial services.

The partnership will also leverage alternative digital payment methods to reach the globe.

Stablecoins offer a strong alternative for those excluded by the conventional financial systems thanks to benefits like nearly immediate transactions, improved security, and lower gas costs. However, despite these benefits, stablecoin applications in daily business activities still face difficulties. Stablecoins are used less frequently by merchants, to mention one.

This partnership will enable Fizen to close this gap by enabling users to effectively settle payments using stablecoins. The fintech also aims to enable merchants to receive rapid fiat settlements via common payment techniques including card readers and QR codes. While the digital payment options eliminate the need for extra infrastructure, they make crypto payments more seamless and accessible for businesses in every part of the world.

By 2024, market projections anticipate QR code payments to exceed $3 trillion globally, up from $2.4 trillion in 2022. This increase is being driven by factors such as increased mobile phone penetration, the boom in mobile payments, the expanding implementations of QR codes for diverse applications, and the rising demand for simple, secure, and efficient digital transaction solutions.

The partnership between Tether and Fizen is designed to accelerate the large-scale adoption of digital asset payments in the age of convenient digital transactions.

In the integration of Fizen's infrastructure with Tether's expertise in the stablecoin sector, this partnership will hasten digital asset application worldwide. It will further strengthen Tether's role in promoting blockchain-focused finance and its dedication to international financial inclusion.

The post Tether Announces Strategic Investment in Fintech Firm Fizen to Expand Digital Asset Integration and Payment Solutions appeared first on Fintech News.

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This article was written by and posted on Fintech News, and is part of the Chain Reactions series, which examines the partnership between blockchain and fintech.

As one of the leading virtual currency firms in the industry, Tether is constantly seeking ways to promote advanced technologies that will broaden the adoption and safety of the digital currency network. To this end, Tether has made a strategic investment in Fizen, a fintech firm focusing on digital asset payments and private crypto wallets.

Founded in Israel, Fizen is one of the digital asset firms that are enabling people and businesses to easily adopt and use digital assets for everyday life activities. The firm’s mission is to empower individuals with the power to invest, hold, and transact digital assets using stablecoins. Fizen provides cutting-edge payment technologies that aim to enable smooth stablecoin trading and accessible digital asset usage among people and businesses.

״We are delighted to announce our investment in Fizen, a promising fintech startup that is revolutionizing the way people and businesses use digital assets,״ said Paolo Ardoino, Tether’s Chief Technology Officer. ״This partnership aligns perfectly with Tether’s goal of promoting financial inclusion and expanding the use of blockchain technology for the benefit of the global community.״

Donatas Purlis, CEO of Fizen, added, ״This investment from Tether is a testament to the transformative solutions that Fizen is developing to reshape the future of finance. We are excited to leverage Tether’s expertise and vast experience in the stablecoin sector to drive broader adoption of digital assets across the world.״

According to World Bank data, millions of people across the world are still unable to access banking services. People in this group often mention distance to nearby financial firms and lack of the required documents as the key factors hindering them from accessing traditional banking services.

However, with Fizen’s technology, people can easily access the financial services they need. The startup’s goal is to expand its blockchain abilities to enable the smooth