Tether’s investment in SQRIL underscores a strategic effort to integrate stablecoins into real-world payments, extending beyond trading and DeFi. SQRIL’s API enables banks, neobanks, and wallets to support instant cross-border QR payments, handling forex, compliance, and settlements seamlessly. Emerging markets lead QR adoption, with Southeast Asia, Africa, and Latin America driving growth, reversing traditional innovation flows from developed economies. Tether, the issuer of the world’s largest stablecoin USDT, has invested in SQRIL, a fintech startup based in Southeast Asia.
The company is building the first real-time cross-border “Scan-to-Pay” QR code payment switch. The investment is undisclosed. It aims to connect national payment systems and facilitate the use of stablecoins in daily transactions. The move highlights Tether’s push into real-world utility and SQRIL’s role in emerging markets.
Backing SQRIL could allow USDT integration in backend settlements. This may reduce costs and expedite remittances and merchant payments in regions where QR adoption is more rapid than card infrastructure development. Emerging markets are leading the QR boom. In Southeast Asia, QR transactions are rising with mobile wallet growth.
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