February 11, 2025
Tether, the company behind USDt, has invested in Zengo, a self-custodial cryptocurrency wallet provider. The funding, announced on February 11, comes at a time when regulatory scrutiny around stablecoins is increasing in the European Union. While the financial details remain undisclosed, the investment is expected to support the integration of Tether’s stablecoins into Zengo’s platform, expanding its accessibility across multiple blockchain ecosystems.
Zengo operates a self-custodial wallet that eliminates the need for traditional seed phrases, using multiparty computation (MPC) technology. Since launching in 2019, the company has served over 1.5 million users. It reports no instances of hacking, phishing, or account takeovers, highlighting the role of MPC in mitigating security risks. With Tether’s backing, Zengo plans to strengthen its blockchain-agnostic capabilities, enhance transaction features, and broaden its user base at a time when self-custody solutions are gaining traction globally.
About Zengo
Zengo is a self-custodial cryptocurrency wallet designed with multiparty computation (MPC) technology to eliminate reliance on seed phrases. The platform supports digital asset storage and transactions for Bitcoin, Ethereum, Solana, and various stablecoins. Since its founding in 2019, Zengo has focused on security and usability, offering built-in payment tools, cross-chain swaps, and round-the-clock customer support.
Website: https://zengo.com/
X: @zengo
About Investor
Tether
Tether is the issuer of USDt, the largest stablecoin by market capitalization. Established in 2014, the company facilitates digital asset transactions by providing stablecoins pegged to fiat currencies, enabling blockchain-based financial operations worldwide.
Location: British Virgin Islands
Website: https://tether.to/en/
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