Tether Invests in Zengo Wallet to Enhance Security and Accessibility of Blockchain Tools
Recently, Tether made a strategic investment in the self-custodial crypto wallet Zengo with the goal of improving the security and accessibility of blockchain tools. This move is aimed at further developing Zengo Wallet’s blockchain-based financial tools to facilitate a seamless process for Tether’s stablecoins across various ecosystems.
Through this partnership, users will have more options to securely hold and transfer their Tether tokens using Zengo’s advanced features, including built-in payment tools, cross-chain swaps, and round-the-clock customer support.
Tether CEO, Paolo Ardoino, highlighted that this investment is in line with the stablecoin firm’s commitment to empowering users with reliable, secure, and accessible tools. He stated, “By supporting Zengo’s innovative approach to self-custody, we aim to help more people worldwide access blockchain technology with confidence, ease, and security.”
Moreover, the investment will also contribute to the development of Zengo’s premium program, Zengo Pro, which offers enhanced user experience with features such as theft protection, legacy transfers, and real-time assistance.
Zengo’s Co-founder and CEO, Ouriel Ohayon, expressed optimism about the partnership, emphasizing the pivotal role of stablecoins in shaping a more inclusive financial future.
According to data from ARK Invest, stablecoin transaction value in 2024 surpassed those of payment card giants like Visa and Mastercard by 119% and 200% respectively. At present, Tether remains the largest stablecoin issuer by market cap.
Ohayon stated, “We are proud to partner with Tether to make self-custody simple, secure, and accessible.”
Established in 2019, Zengo Wallet is a self-custodial crypto wallet that aims to eliminate traditional seed phrase vulnerabilities. With over 1.5 million users globally, Zengo offers advanced security features through Zengo Pro, including the industry’s first self-custodial inheritance-style system, theft protection, and an advanced web3 firewall.