SQRIL Supercharges Global Payments Network With Tether’s Strategic Backing
Tether's latest power move isn't just about printing USDT—it's about building the rails. The stablecoin giant is throwing its weight behind SQRIL, a payments network that's aiming to slice through international transaction friction like a hot knife through regulatory butter.
Building the Unbreakable Chain
Forget legacy systems that take days and bleed fees. SQRIL's architecture leverages blockchain to create near-instant settlement corridors. Tether's backing provides more than capital; it offers a liquidity lifeline and a stamp of credibility in a sector drowning in vaporware promises. This isn't just an investment—it's an infrastructure play.
Why This Partnership Cuts Through the Noise
The global remittance market is a playground of inefficiency, guarded by traditional banks that treat cross-border payments like a privilege, not a utility. SQRIL, powered by Tether's deep reserves, targets that exact pain point. It bypasses correspondent banking tangles, aiming to deliver value faster and cheaper. It's a direct challenge to the SWIFT network of the world—a system so outdated it makes fax machines look innovative.
The finance old guard will call it reckless. Early adopters will call it revolutionary. One thing's clear: when the world's largest stablecoin issuer decides to fund the plumbing, the entire ecosystem feels the pressure change. Just don't expect your traditional banker to understand it—they're still trying to figure out their own blockchain strategy, which probably involves a committee and a five-year roadmap to nowhere.
Tether Expands Beyond Stablecoins
Tether’s investment signals a broader push into payment rails that support everyday commerce. The company has increasingly backed infrastructure projects that align stablecoins with real-world usage. By supporting SQRIL, Tether strengthens its position in cross-border payment innovation.
The partnership targets the deeper study and integration of QR payment and stablecoin payment systems. This could facilitate easier cross-border payments. The rising demand for efficient and cheap payment systems may be the reason why this payment method has evolved.
Major markets of SQRIL are Asia, Africa, and Latin America. These regions have witnessed the penetration of the QR code payment method because of mobile-based economies.
SQRIL’s Cross-Border Payment Model
SQRIL’s Cross-Border Payment Model spans traditional banking systems and newly emerging fintech companies via a single common network. Large banks, such as Barclays and Bank of America, are able to network alongside applications such as Venmo, Revolut, and Cash App. Integration occurs via the API.
The platform allows users to scan local QR codes when roaming overseas using their existing banking or wallet apps to access their funds. Funds are settled in real-time. Businesses get paid in their local currency, eliminating exchange rates and the exchange process.
It also facilitates the national QR network that is common in the Asian region and is on the rise in Africa and Latin America. SQRIL has its API running in the Philippines, Vietnam, and Indonesia. Bank transfers are also available in Malaysia and Thailand.
