Tether Backs SQRIL to Revolutionize QR Code Payments Globally

Tether has invested in SQRIL, a QR code payment platform for emerging markets, to expand stablecoin-enabled cross-border payments, improve settlement speed, and boost adoption in Asia, Africa, and Latin America.

Tether has announced a strategic investment in SQRIL, a real-time cross-border QR code payment platform focused on emerging markets in Asia, Africa, and Latin America. The investment amount was not disclosed. SQRIL integrates with traditional banks and digital wallets, enabling users to pay in their home currency while merchants receive local currency, with SQRIL managing currency conversion and settlement. The platform currently supports payments in the Philippines, Vietnam, and Indonesia, with plans to expand to more countries in Africa and Latin America by early 2026. Tether's funding aims to accelerate the development of stablecoin-enabled payment infrastructure, enhance multi-currency transaction capabilities, and improve settlement speed and cross-border efficiency. The partnership is expected to boost adoption among merchants and consumers, reduce friction in international payments, and leverage stablecoins for instant, low-cost transactions. SQRIL's approach seeks to make cross-border payments as simple as scanning a local QR code, addressing the needs of travelers, expatriates, and international businesses.