As a seasoned crypto investor with a keen eye for potential disruptors in the digital finance space, I find the strategic investment by Tether in Sorted Wallet to be a promising development. Having witnessed the transformative power of blockchain technology and its ability to democratize financial services, this partnership aligns perfectly with my vision for a more inclusive global economy.
Tether Operations Limited, known for its leadership in multi-chain stablecoin issuance, recently made a strategic $1.5 million investment in Sorted Wallet, a rapidly expanding crypto wallet company that caters to feature phones and low-powered smartphones. This investment, as stated in the announcement, aims to boost cryptocurrency acceptance in Africa and Southern Asia, regions often overlooked by conventional banking services.
Instead, Tether will speed up its objective of challenging the traditional financial system by adopting a contemporary method for handling money.
According to Tether CEO Paolo Ardoino, by backing Sorted Wallet, we open the door for people with fundamental mobile phones to engage in the financial system. Our goal is to make it possible for everyone, regardless of where they live or the kind of phone they use, to safely handle and use cryptocurrency, giving them the power to construct a more stable financial future.
As stated by Stephen Browne, CEO of Sorted Wallet, it’s essential that web3 protocols and digital assets aren’t only accessible to people using the most advanced smartphones. In fact, many decentralized applications (Dapps) and CeDeFi platforms demand the latest operating systems on mobile devices in order to function efficiently.
Investment by Tether demonstrates faith in Sorted Wallet’s ability to revolutionize lives via user-friendly digital finance. Hand in hand, we are penning an inclusive financial future, one mobile device at a time,” was the observation made by Browne.
Bright Future for Sorted Wallet
In the worldwide surge of digital asset usage and web3 technologies, Sorted Wallet sees a promising, underutilized market opportunity in Africa and Southern Asia. Notably, investors from these areas are increasingly employing digital assets for cross-border transactions, as well as various types of investments.
In other words, by the middle of last year, India was at the forefront of handling approximately $268 billion worth of transactions in these two regions. However, due to the absence of a definitive regulatory structure for cryptocurrencies in these regions, there has been an astonishing surge in the use of digital assets over the past few years.
Previously, the Sorted Wallet was granted financial support from the Blockchain Founders Group for strategic purposes, aiding in the advancement of their growth strategy.
Consequently, the company plans to debut the Sort L2 Network, which is an optimistic rollup boasting zero gas fees for its users.
At present, the Sorted Wallet supports five different blockchain networks: Ethereum, Polygon, Tron, BNB Chain, and Bitcoin. The current prices for these are as follows: ETH ($2 435), POL ($0.40), TRX ($0.15), BTC ($62 014), and the total market capitalization is as follows: Ethereum ($293.01 B), Polygon ($2.88 B), Tron ($13.01 B), BNB Chain (not provided), and Bitcoin ($1.23 T). The 24-hour trading volumes are as follows: ETH ($20.80 B), POL ($71.01 M), TRX ($379.48 M), BTC ($44.73 B). In the future, they plan to add more blockchains such as Toncoin (TON) based on user demand.
As of this writing, the Sorted Wallet takes pride in more than 83k downloads from 64 countries.
As a crypto investor, I appreciate that the Sorted Wallet caters to a global audience by supporting at least ten different languages. This means it’s reaching out to potentially over a billion users who may not have access to smartphones traditionally.
Over time, areas with lower GDP are likely to experience growth coinciding with the surge of Bitcoin and cryptocurrencies, a trend that typically repeats approximately every four years. This pattern is marked by distinct cycles, each one preceded by the Bitcoin halving event.
Read More
Sorry. No data so far.
2024-09-19 11:46