Tether Invests in Zengo Wallet to Boost USDT Adoption
Tether Operations Limited has invested in Zengo Ltd., enhancing its multi-chain crypto wallet with support for Tether’s stablecoins across major blockchains including Bitcoin, Ethereum, and Toncoin. Key points include:
- Zengo wallet serves over 1.5 million users, offering features like cross-chain swaps and 24/7 support.
- Investment will bolster Zengo Pro, providing theft protection and legacy transfer services.
- CEO Paolo Ardoino criticized MetaMask's user experience, promoting the shift to Zengo wallet.
The investment aims to boost adoption of Tether’s USDT, currently valued at approximately $141.8 billion with a daily trading volume of $47 billion. It also supports other stablecoins like the Mexican Peso (MXNT) and Chinese Yuan (CNHT). Tether's market dominance is around 65%, affected by competition from Circle's USDC.