Tether’s investment will also support Zengo Pro to grow its features through stablecoins.
Paolo Ardoino, CEO of Tether, has called out MetaMask for offering poor user experience to millions of global users.
Tether Operations Limited, the largest web3 company focused on the stablecoins space, has announced a strategic investment in Zengo Ltd., a multi-chain crypto wallet powered by multi-party computation (MPC). The investment will enable Zengo wallet to seamlessly support Tether’s stablecoins across major blockchains led by , Ethereum , and , among others.
As a result, the Zengo wallet will enable its over 1.5 million global users to access more options to store, transfer, and transact with Tether’s stablecoins including . Furthermore, the Zengo wallet includes advanced features such as built-in payment tools, cross-chain swaps, and 24/7 customer support.
“By supporting Zengo’s innovative approach to self-custody, we aim to help more people worldwide access blockchain technology with confidence, ease, and security. Together, we are shaping the future of how stablecoins are used and adopted,” Paolo Ardoino, CEO of Tether, noted.
“By supporting Zengo’s innovative approach to self-custody, we aim to help more people worldwide access blockchain technology with confidence, ease, and security. Together, we are shaping the future of how stablecoins are used and adopted,” Paolo Ardoino, CEO of Tether, .
Tether’s investment will also support Zengo Pro, a premium feature that provides users with extra services such as theft protection and legacy transfer capabilities. According to Ouriel Ohayon, the co-founder and CEO at Zengo, the strategic investment from Tether will help be the cornerstone for future development.
Earlier on Tuesday, Ardoino highlighted the difficulties of operating MetaMask, a legacy crypto wallet, due to its sluggishness for the past few months. Ardoino argued that MetaMask has a poor user experience, thus advising his move to Rabby wallet and now a strategic investment in Zengo wallet.
Update: moved to Rabby https://t.co/oyBfFOvWnh
— Paolo Ardoino 🤖🍐 (@paoloardoino) February 11, 2025
Update: moved to Rabby
— Paolo Ardoino 🤖🍐 (@paoloardoino)
Impact of Tether’s Investment in Zengo Wallet to USDT
The mainstream adoption of digital assets and web3 protocols has helped Tether’s USDT to become the most reputable stablecoin backed by the US dollar. As of this writing, Tether’s USDT had a fully diluted valuation of about $141.8 billion and a 24-hour average trading volume of around $47 billion.
The strategic investment of Tether in the Zengo wallet will enable further adoption of Tether’s stablecoins including the Mexican Peso (MXNT), Chinese Yuan (CNHT), XAUT, and EURT. Moreover, the Zengo wallet has been endorsed by more crypto users due to its incorporation of institutional-grade MPC instead of the traditional seed phrase.
The notable growth of competitive stablecoins such as Circle’s USDC in the United States has reduced USDT’s market dominance to around 65 percent at the time of this writing. Already, US President Donald Trump has shown support for USDC through the World Liberty Financial (WLFI) platform.
“Stablecoins are the cornerstone of an inclusive financial future. We are proud to partner with Tether to make self-custody simple, secure, and accessible,” Ohayon noted.
“Stablecoins are the cornerstone of an inclusive financial future. We are proud to partner with Tether to make self-custody simple, secure, and accessible,” Ohayon noted.