Tether (USDT) Invests $1.5 Million in Sorted Wallet to Boost Financial Inclusion

Tether
Operations
Limited,
a
leading
entity
in
the
digital
asset
industry,
has
announced
a
strategic
investment
of
$1.5
million
in
Sorted
Wallet,
a
platform
designed
to
provide
easy
access
to
cryptocurrencies
for
users
in
emerging
markets.
This
investment
aims
to
enhance
financial
inclusion
across
Africa
and
Southern
Asia,
according
to

tether.io.

Enhancing
Financial
Inclusion

Sorted
Wallet
offers
secure
and
accessible
cryptocurrency
transactions,
bridging
the
gap
for
unbanked
and
underbanked
individuals
in
developing
regions.
Catering
to
users
with
limited
access
to
advanced
technology,
the
platform
is
specifically
designed
for
feature
phones
and
low-powered
smartphones.
It
provides
a
non-custodial
wallet
that
promotes
economic
empowerment
and
financial
inclusion.
This
initiative
aligns
with
Tether’s
mission
to
improve
global
financial
accessibility
in
areas
with
little
or
no
banking
infrastructure.

Cryptocurrency
as
a
Tool
for
Financial
Inclusion

Cryptocurrency
is
emerging
as
a
crucial
tool
for
financial
inclusion
in
Africa
and
Southern
Asia,
where
there
is
limited
access
to
traditional
banking
services.
In
Africa,
crypto
has
penetrated
key
markets
and
become
important
to
many
residents’
daily
lives.
Central
&
Southern
Asia
and
Oceania
(CSAO)
boast
one
of
the
world’s
most
dynamic
cryptocurrency
markets.
As
of
June
2023,
India
leads
the
region
in
transaction
volume,
receiving
an
estimated
$268.9
billion
in
crypto
assets.
In
both
regions,
cryptocurrency
enables
faster,
more
affordable
remittances,
provides
an
alternative
to
unstable
local
currencies,
and
offers
investment
opportunities.
Despite
regulatory
concerns,
crypto
adoption
continues
to
grow
as
people
seek
more
efficient
financial
solutions.
For
those
with
only
basic
mobile
phones,
cryptocurrency
is
their
gateway
to
the
global
financial
system.

Statements
from
Key
Figures

“This
investment
underscores
Tether’s
commitment
to
advancing
financial
inclusion
and
economic
empowerment
in
underserved
regions,”
said
Paolo
Ardoino,
CEO
of
Tether.
“By
supporting
Sorted
Wallet,
we
unlock
new
opportunities
for
individuals
with
basic
mobile
phones
to
participate
in
the
financial
system.
Our
goal
is
to
ensure
that
everyone,
regardless
of
location
or
phone
type,
can
securely
manage
and
utilize
cryptocurrency,
empowering
them
to
build
a
more
secure
financial
future
and
actively
engage
in
the
evolving
digital
economy.”

“Sorted
Wallet
was
born
from
the
belief
that
financial
empowerment
should
not
depend
on
owning
the
latest
smartphone.
With
Tether’s
investment,
we
are
turning
that
belief
into
reality
for
millions
across
Africa
and
Southern
Asia,”
said
Sorted
Wallet’s
CEO,
Stephen
Browne.
“Tether’s
investment
is
a
testament
to
the
potential
of
Sorted
Wallet
to
transform
lives
through
accessible
digital
finance.
Together,
we
are
writing
a
new
chapter
in
financial
inclusion,
one
phone
at
a
time.”

Future
Prospects

With
this
$1.5
million
investment,
Tether
aims
to
foster
a
more
connected
and
inclusive
global
financial
landscape
by
empowering
Sorted
Wallet
to
expand
its
reach.
This
also
reflects
Tether’s
commitment
to
driving
the
growth
of
digital
finance
and
promoting
innovative
solutions
that
address
the
financial
needs
of
underserved
populations
worldwide.

Image
source:
Shutterstock