September 19, 2024
Tether Operations Limited, a prominent player in the digital asset sector, has announced a $1.5 million strategic investment in Sorted Wallet. This platform aims to facilitate easy access to cryptocurrencies for users in emerging markets, particularly in Africa and Southern Asia, as stated on tether.io.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Sorted Wallet | $1.5M | September 19, 2024 | Pre-Seed Round | Tether | Wallet |
Sorted Wallet provides secure and accessible cryptocurrency transactions, targeting unbanked and underbanked individuals in developing regions. Designed for feature phones and low-powered smartphones, it offers a non-custodial wallet that fosters economic empowerment and financial inclusion. This initiative supports Tether’s mission to enhance global financial accessibility in areas with limited or no banking infrastructure.
About Sorted Wallet
Sorted Wallet is a platform designed to provide easy access to cryptocurrencies for users in emerging markets, particularly those with limited access to advanced technology. It offers a non-custodial crypto wallet app that runs on KaiOS, making it compatible with feature phones and low-powered smartphones. Sorted Wallet aims to enhance financial inclusion by enabling secure and accessible cryptocurrency transactions, helping unbanked and underbanked individuals manage their digital assets, send and receive funds, and participate in decentralized finance (DeFi) activities.
Website: https://www.sortedwallet.com/
About Investor
Investor: Tether
Tether is a company that creates stablecoins, which are digital currencies designed to maintain a stable value by being pegged to traditional currencies like the US dollar. Their most well-known product is USD₮, the world’s largest stablecoin. Tether aims to provide financial stability and accessibility, especially in regions with unstable economies. They also invest in various technologies, including Bitcoin mining, decentralized communication, and AI, to promote financial and technological innovation.
Location: Seattle
Website: https://tether.io/
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