Daily Market Updates: Tether backs Pact Labs with $7 million to expand USAT stablecoin use

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Tether backs Pact Labs with $7 million to expand USAT stablecoin use

The funding is intended to build “rails” for USAT, with Pact Labs positioned as designed to support compliance with U.S. regulations.

Reported · Written up by our desk · Market Structure

Tether led a $7 million funding round in Pact Labs, which aims to support broader adoption of the USAT stablecoin, according to The Block.

The Block reports that Pact Labs provides infrastructure Tether says will serve as rails for digital dollars designed to be compliant with U.S. regulations.

Tether USAT framed the investment as part of its effort to expand the stablecoin’s presence in the United States, with Pact Labs described as a compliance-oriented platform.

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Sources

The BlockTether leads $7 million round in Pact Labs to boost USAT stablecoin adoption

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Tether backs Pact Labs with $7 million to expand USAT stablecoin use

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