Tether has announced its strategic investment in the financial technology company Fizen, which specializes in solutions for self-custody of cryptocurrencies. The amount of the deal remains undisclosed.
This is reported by Business • Media
These funds will be directed towards the development of technologies for cryptocurrency storage, enabling consumers and businesses to easily utilize digital assets. According to company representatives, Fizen offers innovative payment solutions that provide convenience in using stablecoins.
Partnership for Enhancing Financial Services
This partnership will allow Fizen to integrate stablecoins into various blockchain ecosystems, simplifying the storage, exchange, and transfer of digital assets without the need for additional infrastructure. As Tether CEO Paolo Ardoino noted, the investment in Fizen opens new horizons for the adoption of stablecoins in everyday life:
“Fizen’s innovative model helps bridge the gap between self-custody and digital payments, providing users with greater financial independence while reinforcing our leadership as the most widely used stablecoin in the world, promoting inclusive access to the financial system.”
Prospects for Crypto Payments
Fizen CEO Leo Wu expressed the view that stablecoins could become a significant factor in the development of crypto payments. He emphasized the need to create intuitive applications that allow users to easily engage with new technologies. Previously, Tether announced the possibility of issuing a new stablecoin in the event of restrictions in the U.S.