Tether invests $1.5m in Sorted Wallet to boost financial access

Tether has invested $1.5 million in Sorted Wallet, a platform that helps people in emerging markets access cryptocurrencies using simple mobile phones.

According to a post by Tether (USDT), this investment aims to increase financial inclusion in regions such as Africa and South Asia that do not have access to traditional banking.

What is Sorted Wallet?

Sorted Wallet allows people who are unbanked or have limited banking options to use crypto. It works on basic mobile devices and allows users to store, send, and receive crypto. The platform does not control users’ funds, making it a safe option for those in developing regions.

Cryptocurrency has become important in regions where traditional banking is limited. In places like Africa and parts of Asia, many people rely on crypto to make faster, cheaper payments and protect their money from volatile local currencies. It also offers an alternative to traditional banking, which can be expensive or inaccessible.

Tether CEO Paolo Ardoino said this investment will help expand financial services to underserved communities.

“By supporting Sorted Wallet, we are opening up 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 securely manage and use cryptocurrency, enabling them to build a more secure financial future and actively participate in the evolving digital economy.”

Paolo Ardoino

In June, Tether invested $18.75 in cross-border cryptocurrency exchange XREX to support USDT-based payments in emerging markets. XREX planned to use the funds to develop cross-border business payments and collaborate with the Unitas Foundation to launch a gold-backed stablecoin.

This investment comes after Tether’s expansion efforts in Eastern Europe and the UAE.