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Tether Backs SQRIL For Future Of Mobile QR Payments
Tether Backs SQRIL For Future Of Mobile QR Payments. Photo By Mitya Ivanov On Unsplash.
Tether has invested into QR mobile payments company SQRIL.
In its latest round of investments, Tether has chosen to support the team behind SQRIL - a growing mobile app across Asia - that facilitates easy QR code payments in local settings.
CEO Malcolm Weed expressed the significance behind this:
“Having worked in crossborder payments for the past thirteen years and spending the past three living in Southeast Asia, I can confidently say that scan-to-pay QR code payments will be universal the world over in the coming years. Usually you see developed world technologies making their way to emerging markets, but I really believe this will happen in the reverse.”
The increase in popularity for scan-to-pay commerce solutions (particularly for Android devices) have skyrocketed in regions like the Philippians, Indonesia, Thailand and others.
In 2025 alone, the QR code market grew to $18B and oversaw a $5.4T total spend. Equally, the improvement in mobile connectivity (4G in particular) and merchant incentives to reduce dependencies on payouts based on traditional checkout methods are also contributing factors.
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