Tether invests $ 3 million in Kem to promote the introduction of USDT

Von Sophie Müller

  • Tether announces strategic investment of $ 3 million in the KEM app to promote the acceptance of its stable coin.
  • The partnership with KEM supports Tether's commitment to financial inclusion all over the world, said Tether CEO Paolo Ardoinino.

Tether, the leading issuer of stablecoins, strives for a new market penetration with a strategic investment in the money transfer and financial management platform.

according to a report of August 13th The 3-million dollar investment will lead to the KEM-APP will lead Platform usdt adds for your users, which promotes the introduction of stablecoin in the Middle East.

"This investment underlines Tether's commitment to promote financial inclusion and stability. We believe that everyone should have the opportunity to protect their family and company from inflation and at the same time have unrestricted access to financial services," said Paolo Ardoinino, CEO from Tether. "Our investment in KEM app is proof of this belief, since the platform offers tools that simplify access to the financial system and perfectly fit our mission to promote financial freedom for everyone."

crypto acceptance grows in the Mena region

The collaboration between Kem and Tether takes place in the course of the growing acceptance of cryptocurrencies in the Middle East and North Africa (Mena), the sixth largest crypto economy in the world. Overall, the region accounts for an on-chain value of around $ 389.8 billion-a share of 7.2 % of the global volume from July 2022 to June 2023.

Dubai and Abu Dhabi are among the top goals for cryptocurrencies in the region.

Tether recently announced that it achieved a record gain of $ 5.2 billion in the first half of 2024, and has announced that it would defend itself against a "extortion action" by Celsius. Ardoinino said in a statement that the legal dispute was about setting an "example of bad actors".

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Source: Coinlist.me