Tether Invests in SQRIL to Revolutionize Cross-Border Payments
Tether, the renowned stablecoin issuer, has recently announced its strategic investment in SQRIL, a fast-growing Southeast Asia-based payment infrastructure startup. Although the exact investment amount remains undisclosed, this collaboration marks a significant innovation toward enhancing global payment solutions.
What is SQRIL?
SQRIL is a cutting-edge fintech platform that enables real-time, cross-border QR code payments. Its core advantage lies in the use of an API switch that connects traditional banks, such as Barclays and Bank of America, as well as digital wallets like Venmo, Revolut, and Cash App to a seamless cross-border payment network.
The platform simplifies payment processes by allowing customers to pay using their local currencies while merchants receive payments in their native currency. SQRIL manages the foreign exchange conversion automatically, providing effortless and instant settlements for users and businesses alike.
A Growing Global Presence
While headquartered in Southeast Asia, SQRIL currently supports QR code payments in the Philippines, Vietnam, and Indonesia. Its services extend to bank transfer functionalities in Malaysia and Thailand, with plans to expand operations across additional countries in Asia, Africa, and Latin America during Q1 this year.
The expansion is in synergy with ongoing trends in emerging markets, where QR code transactions have surged in popularity. Governments in these regions are actively promoting QR payment systems to advance financial inclusion, making them an integral part of daily financial transactions.
Tether’s Role in the Future of Payments
With its investment in SQRIL, Tether aims to solidify its position as a leader in stablecoin-integrated payment systems. The collaboration is expected to accelerate SQRIL’s implementation of stablecoin technology while expanding infrastructures for QR-based solutions globally.
Speaking on the company’s vision, Malcolm Weed, Founder and CEO of SQRIL, said, “I can confidently say that scan-to-pay QR code payments will be universal worldwide in the coming years. With the rise of national QR code schemes, stablecoins, and the global movement of people, there needs to be a better way to pay across borders.”
The Big Picture of QR Code Payments
Scan-to-pay QR code technology is transforming the landscape of global commerce. This trend is evident as industries in Asia, Latin America, and Africa rapidly adopt these efficient payment models. SQRIL, armed with Tether’s support, aims to lead this transformation by focusing on interoperability, accessibility, and financial innovation in emerging markets.
For individuals and businesses striving for faster cross-border payment methods, platforms like SQRIL are paving the way for seamless transactions. These systems eliminate complexities in currency conversion and processing delays, making them essential for modern finance.
Ready to Simplify Your Transactions?
Looking for ways to integrate these advancements into your personal or business finances? Start by exploring tools like Revolut (Revolut) or Venmo (Venmo), which already provide compatibility with platforms like SQRIL. These fintech services bridge the gap between traditional banking and next-generation payment technologies, ensuring you stay ahead in today’s fast-moving financial world.
