Tether invests in Zengo Wallet to advance self-custody

Tether has announced a strategic investment in self-custodial crypto wallet Zengo to enhance the security and accessibility of blockchain tools.

In a press release shared to crypto.news, Tether (USDT)’s investment aims to help Zengo Wallet further develop its blockchain-based financial tools in order to create a seamless process for Tether’s stablecoins across various major 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 24-hour customer support.

Tether CEO Paolo Ardoino said the investment aligns with the stablecoin firm’s commitment to empowering users by providing reliable, secure, and accessible tools.

“By supporting Zengo’s innovative approach to self-custody, we aim to help more people worldwide access blockchain technology with confidence, ease, and security,” said Ardoino.

Additionally, the investment will contribute to the development of Zengo’s premium program, Zengo Pro, which offers an enhanced user experience with theft protection, legacy transfers, and real-time assistance.

Zengo Co-founder and CEO Ouriel Ohayon expressed optimism about the partnership, emphasizing the crucial 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 the time, Tether remains the largest stablecoin issuers by market cap.

“We are proud to partner with Tether to make self-custody simple, secure, and accessible,” said Ohayon.

Launched in 2019, Zengo Wallet is a self-custodial crypto wallet designed to eliminate traditional seed phrase vulnerabilities. With over 1.5 million users worldwide, 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.