Outside Source
Tether has invested in Zengo Wallet to boost self-custody features as USDt faces regulatory pressure in the EU.
News
Tether, the issuer of the world’s largest stablecoin by market capitalization, has invested in Zengo Wallet, a self-custodial cryptocurrency wallet, as its USDt stablecoin faces regulatory challenges in the European Union.
Tether has completed a strategic investment in Zengo Wallet, a self-custodial wallet focused on multiparty computation (MPC) technology, according to an announcement shared with Cointelegraph on Feb. 11.
The undisclosed investment will help Zengo enhance its wallet features, enabling “seamless support for Tether’s stablecoins across major blockchain ecosystems,” the announcement stated.
“Tether is committed to delivering reliable and secure tools that empower users to take control of their digital assets. Our investment in Zengo reflects that commitment,” Tether CEO Paolo Ardoino said.
Zengo eliminates seed phrase vulnerability
Launched in 2019, Zengo operates a self-custodial cryptocurrency wallet that eliminates the need for traditional seed phrases.
According to the announcement, the wallet has served more than 1.5 million users worldwide “without a single wallet being hacked, phished, or taken over.”
“By supporting Zengo’s innovative approach to self-custody, we aim to help more people worldwide access blockchain technology with confidence, ease, and security. Together, we are shaping the future of how stablecoins are used and adopted,” Ardoino said.
This is a developing story; further information will be added as it becomes available.
Magazine: Justin Sun reignites HTX feud, India reconsiders crypto hate: Asia Express
This article first appeared at Cointelegraph.com News
