Tether’s $3 Million Investment in Kem: A Step Toward Financial Inclusion in the Middle East

Tether
Operations
Limited
has
recently
announced
a
strategic
investment
of
$3
million
into
the
Kem
app,
a
platform
focused
on
money
transfers
and
financial
management.
This
significant
investment
will
enable
Kem
to
introduce
USD₮
on
its
platform,
with
the
goal
of
promoting
widespread
adoption
of
the
digital
currency
across
the
Middle
East.
This
move
aligns
with
Tether’s
broader
mission
to
transform
traditional
payment
systems
and
advance
financial
inclusion
on
a
global
scale.

Advancing
Financial
Inclusion
in
the
Middle
East

The
Middle
East
and
North
Africa
(MENA)
region
has
emerged
as
the
sixth-largest
crypto
economy
globally,
with
an
estimated
$389.8
billion
in
on-chain
value
received
between
July
2022
and
June
2023.
This
represents
approximately
7.2%
of
the
global
transaction
volume
during
that
period,
highlighting
the
region’s
growing
interest
in
digital
assets.
Several
Gulf
countries,
particularly
Dubai
and
Abu
Dhabi,
have
become
focal
points
in
the
crypto
industry,
further
underscoring
the
strategic
importance
of
this
investment.

Tether’s
investment
in
Kem
is
poised
to
have
a
significant
impact
on
neighboring
countries
such
as
Kuwait,
Bahrain,
Saudi
Arabia,
Qatar,
and
Iraq.

The
introduction
of
USD₮
on
the
Kem
platform
is
expected
to
improve
economic
conditions
in
these
regions,
benefiting
millions
of
expatriates
who
can
now
access
more
stable
financial
services.
By
providing
an
alternative
to
volatile
local
currencies,
USD₮
can
help
alleviate
concerns
about
hyperinflation
and
economic
instability
in
these
areas.

Expanding
USD₮
Accessibility
in
the
Gulf
Region

One
of
the
key
outcomes
of
this
investment
is
the
increased
accessibility
of
USD₮
for
residents
of

the
Gulf
Cooperation
Council
(GCC)
countries.
Through
established
consumer
financial
platforms
like
the
Kem
app,
users
will
have
more
convenient
access
to
cross-border
transactions,
enhancing
financial
inclusion
and
security.
Tether’s
investment
also
marks
a
strategic
expansion
into
the
Middle
East
market,
with
Kem
serving
as
a
crucial
regional
asset
in
this
endeavor.

In
line
with
its
mission

to
support
a
decentralized
financial
ecosystem,
Tether
continues
to
engage
in
various
projects
aimed
at
enhancing
everyday
consumer
services.
These
initiatives
include
Pear
Credit,
a
peer-to-peer
accounting
system
designed
for
high
scalability
and
resilience;
HolePunch,
a
platform
for
peer-to-peer
applications;
and
Keet,
a
free
peer-to-peer
instant
messaging
application
that
operates
without
the
need
for
centralized
entities.
Tether
is
also
investing
in
generative
AI
cloud
platforms
as
part
of
its
broader
efforts
to
advance
technology-driven
financial
solutions.

Paolo
Ardoino,
CEO
of
Tether,
emphasized
the
importance
of
this
investment
in
promoting
financial
inclusion
and
stability.
He
stated,

“This
investment
reinforces
Tether’s
commitment
to
promoting
financial
inclusion
and
stability.
We
believe
that
everyone
should
have
the
means
to
protect
their
families
and
businesses
against
inflation
while
enjoying
unrestricted
access
to
financial
services.
Our
investment
in
Kem
App
is
a
testament
to
this
belief,
as
the
platform
provides
tools
that
simplify
access
to
the
financial
system,
perfectly
aligning
with
our
mission
to
advance
financial
freedom
for
all.”

This
collaboration
between
Tether
and
Kem
sets
the
stage
for
the
app
to
enhance
its
offerings
and
better
serve
millions
of
underserved
businesses
throughout
the
Middle
East.
By
integrating
cryptocurrencies
into
its
platform,
Kem
aims
to
emulate
the
success
of
similar
financial
platforms
in
other
regions,
driving
mass
adoption
of
digital
currencies
and
fostering
a
more
inclusive
banking
environment
in
the
Gulf
region.

In
summary,
Tether’s
strategic
investment
in
Kem
represents
a
critical
step
toward
achieving
financial
inclusion
in
the
Middle
East.
By
introducing
USD₮
on
the
Kem
platform,
Tether
not
only
advances
its
mission
of

transforming
global
payment
systems
but
also
supports
the
broader
goal
of
financial
stability
and
inclusion
in
one
of
the
world’s
most
dynamic
and
rapidly
growing
regions.

Tether
To
Make
Strategic
$3
Million
Investment
in
Kem,
Paving
the
Way
for
Financial
Inclusion
in
the
Middle
East
Learn
more:

https://t.co/20oivMsS6P

—
Tether
(@Tether_to)

August
13,
2024

Crypto
All-Stars:
A
Standout
Meme
Coin
Presale
with
Unique
Staking
Utility

Crypto
All-Stars
has
quickly
become
one
of
the
most
notable
cryptocurrency
presales
of
the
year,
not
just
for
introducing
a
new
meme
coin
to
the
market,
but
for

offering
a
distinctive
staking
utility
that
sets
it
apart
from
the
rest.
The
platform
provides
a
unique
“MemeVault”
feature,
allowing
investors
to
stake
popular
meme
coins
such
as
Dogecoin,
Floki
Inu,
Pepe,
and
eight
other
top
meme
coins,
creating
an
innovative
way
for
the
crypto
community
to
engage
and
earn
rewards.

This
novel
staking
mechanism,
referred
to
as
“vaulting,”
enables
participants
to
earn
$STARS
tokens
by
staking
their
meme
coins.
The
concept
of
vaulting
complements
the
playful
imagery
presented
on

the
Crypto
All-Stars
website,
which
features
2D
representations
of
well-known
meme
coins
interacting
with
each
other.
This
visual
approach,
combined
with
the
platform’s
utility,
aims
to
foster
a
sense
of
unity
within
the
crypto
community,
emphasizing
the
potential
for
profit
through
collaboration.

The
unique
features
of
Crypto
All-Stars
have
contributed
to
its
rapid
success
in
the
presale
phase,
with
the
platform
raising
over
$340k
within
just
a
few
days.
The
presale’s
success
is
largely
attributed
to
the
platform’s
ability
to
tap
into
the
widespread
popularity
of
the
meme
coins
featured
on
its
website,
generating
significant
buzz
across
social
media.
This
strategy
is
expected
to
further
increase
the
visibility
and
appeal
of
Crypto
All-Stars
as
it
continues
to
gain
traction
among
investors.

Given
its
innovative
approach
and
the
potential
to
leverage
the
viral
appeal
of
popular
meme
coins,
Crypto
All-Stars
presents
a
compelling
investment
opportunity
for
those
looking
to
capitalize
on
the
ever-growing
meme
coin
trend.
The
platform’s
ability
to
unite
the
community
through
staking
and
profit-sharing
could
position
it
as
a
key
player
in
the
meme
coin
space.

Visit
Crypto
All-Stars
Presale

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