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Tether Invests in Zengo Wallet Amid EU Regulatory Hurdles

Coin WorldTuesday, Feb 11, 2025 2:13 pm ET

1min read

Tether, the issuer of the world's largest stablecoin, USDt, has made a strategic investment in Zengo Wallet, a self-custodial cryptocurrency wallet that specializes in multiparty computation (MPC) technology. This move comes amidst regulatory challenges faced by Tether's stablecoin in the European Union.

The investment will enable Zengo Wallet to support Tether's stablecoins across multiple blockchains, including Bitcoin, Ethereum, and Toncoin. Zengo Wallet offers a range of features such as built-in payment tools, cross-chain swaps, and round-the-clock customer support. Tether's investment will also support Zengo Pro, a premium feature that provides theft protection and legacy transfer services.

Zengo Wallet's CEO, Ouriel Ohayon, expressed his enthusiasm about the investment, stating that it will be crucial for the company's future development. This collaboration between Tether and Zengo Wallet is expected to enhance the accessibility and security of stablecoin transactions, particularly for users who prefer self-custody of their assets.

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