Tether invests in SQRIL to promote cross-border payments using stablecoins and QR codes

The stablecoin giant Tether has announced an investment in SQRIL – a real-time cross-border payment platform based on QR codes. The transaction value was not disclosed. Currently, SQRIL focuses its operations in emerging markets such as Asia, Africa, and Latin America, and allows integration via API with major traditional banks like Barclays, Bank of America, as well as popular digital banking and payment services including Venmo, Revolut, and Cash App.

According to Tether, this investment aims to support SQRIL in expanding and upgrading cross-border payment solutions, combining stablecoin and QR technology. The goal is to optimize processing speed, reduce transaction costs, and improve financial inclusion for users and businesses in regions with limited banking infrastructure. This move demonstrates Tether’s continued efforts to promote the application of stablecoins in real-world payment scenarios worldwide.