September 19, 2024—Tether Operations Limited, the largest digital asset industry, announces a $1.5 million strategic investment in Sorted Wallet, a platform designed to give users in emerging markets easy access to cryptocurrencies did. The investment aims to strengthen financial inclusion across Africa and South Asia.
Sorted Wallet provides secure and accessible cryptocurrency transactions, bridging the gap between unbanked and unbanked individuals in developing regions. Catering to users with limited access to advanced technology, the platform is specifically designed for feature and low-power smartphones and provides a non-custodial wallet that promotes economic empowerment and financial inclusion. . This initiative is in line with Tether’s mission to improve global financial access in regions with little or no banking infrastructure.
In Africa and South Asia, where access to traditional banking services is limited, cryptocurrencies are emerging as an important tool for financial inclusion. In Africa, cryptocurrencies have penetrated major markets and become important to the daily lives of many residents. Central, South Asia and Oceania (CSAO) boasts one of the most dynamic and attractive cryptocurrency markets in the world. As of June 2023, India leads the region in trading volume, receiving an estimated $268.9 billion in crypto assets. In both regions, cryptocurrencies enable faster and more affordable money transfers, provide an alternative to volatile local currencies, and offer investment opportunities. Despite regulatory concerns, adoption of cryptocurrencies continues to grow as people seek more efficient financial solutions. For those with only a basic mobile phone, cryptocurrencies are the gateway to the global financial system.
“This investment underscores Tether’s commitment to advancing financial inclusion and economic empowerment in underserved communities,” said Tether CEO Paolo Ardoino. . “Supporting Sorted Wallet creates new opportunities for individuals with basic mobile phones to participate in the financial system. Our goal is to enable everyone, regardless of location or phone type, to Our mission is to enable people to safely manage and use their cryptocurrencies, build a more secure financial future, and actively participate in the evolving digital economy.”
“Sorted Wallet was born out of the belief that financial empowerment should not depend on owning the latest smartphone. With Tether’s investment, we are making that possible for millions of people in Africa and South Asia. We are turning beliefs into reality,” said Stephen Brown, CEO of Sorted Wallet. “Tether’s investment proves ThoughtWallet’s potential to change lives through accessible digital finance.Together, we are writing a new chapter in financial inclusion, one phone at a time. ”
With this $1.5 million investment, Tether aims to foster a more connected and inclusive global financial environment by expanding the reach of Thought Wallet. This also reflects Tether’s commitment to driving the growth of digital finance and fostering innovative solutions that address the financial needs of underserved populations around the world.
