Tether has made a strategic investment in Fizen Limited, a fintech company focused on self-custodial wallets and digital payments. This move aims to accelerate global stablecoin adoption and enhance self-custody solutions.
Fizen’s technology simplifies stablecoin transactions, enabling both consumers and businesses to benefit from digital assets. The company specializes in multi-chain transactions, allowing users to store, transfer, and spend stablecoins more efficiently.
Tether’s investment will help Fizen improve its blockchain capabilities, making it easier for users to transact with stablecoins across various platforms. This partnership also targets financial inclusion, addressing the barriers that the unbanked face in accessing traditional banking services.
Tether backs Fizen to cut fees and speed up transactions
According to the World Bank’s Global Findex Report, millions of people worldwide are unbanked due to challenges such as distance to financial institutions and documentation requirements.
Fizen’s self-custodial solution offers a more accessible and secure way for these individuals to engage in financial transactions. The adoption of stablecoins is growing, but their use in everyday commerce remains limited.
High fees and slow transaction times are obstacles for merchants and consumers alike. With Tether’s backing, Fizen aims to solve these challenges by offering a system that allows merchants to accept stablecoin payments while receiving instant fiat settlements.
The use of payment methods like QR codes and card readers makes this process seamless and cost-effective, eliminating the need for additional infrastructure.
QR Code payments surge Past $3T by 2024
Market trends indicate a rapid increase in QR code payments, projected to exceed $3 trillion by 2024, with 2.2 billion users by 2025. This growth is driven by the widespread use of smartphones and a rising demand for secure, frictionless transactions.
Through this collaboration, Fizen and Tether seek to make crypto payments more accessible and efficient, paving the way for the broader adoption of digital currencies in everyday transactions.
Tether’s commitment to supporting responsible digital asset use is evident in this investment. By strengthening self-custodial infrastructure, Tether and Fizen hope to empower users with greater financial independence while advancing blockchain-based financial systems.
Their partnership aims to increase the global accessibility of stablecoin payments, ensuring that digital assets become a practical tool for people around the world.
