Tether, the world's largest stablecoin issuer, has made a strategic investment in Southeast Asia-based payment infrastructure company SQRIL. The undisclosed funding aims to expand real-time, cross-border QR code payment solutions across emerging markets in Asia, Africa, and Latin America.
The partnership focuses on integrating stablecoins into SQRIL's platform, which allows users to pay in their home currency while merchants automatically receive settlement in local currency. The system handles foreign exchange conversion and payouts behind the scenes. SQRIL's technology connects via standard APIs to traditional banks like Barclays and Bank of America and digital platforms such as Venmo, Revolut, and Cash App, enabling global scan-to-pay transactions without requiring new accounts.
SQRIL is currently live with QR payments in the Philippines, Vietnam, and Indonesia, and offers bank transfer functionality in Malaysia and Thailand. The company plans to expand to additional countries across the three target continents in the first quarter of 2026. CEO Malcolm Weed stated the investment will support platform upgrades, enhance multi-currency transaction infrastructure, and drive merchant and consumer adoption.
This move signals Tether's strategic shift towards increasing the real-world utility of stablecoins beyond trading, targeting everyday payments and financial inclusion in regions with limited banking access. The investment leverages the rapid growth of QR code payments, which have become dominant in many Asian markets and are gaining traction in Latin America and Africa, often supported by government initiatives.
