• Tether invests in SQRIL to expand stablecoin payments in Asia, Africa and Latin America.
• SQRIL allows users to pay in their currency while merchants receive local currency automatically.
• QR code payments grow in emerging markets and stablecoins help make cross-border payments faster.

Tether has strategically invested in a payment infrastructure company called SQRIL which is based in Southeast Asia. The amount of the investment has not been disclosed. The financing is expected to increase the integration of stablecoins and the cross-border QR payment opportunities. SQRIL has a real-time QR code payment system in Asia, Africa, and Latin America. The company aims at facilitating smooth transactions both between users and merchants across borders.

The investment is indicative of Tether’s strategy of increasing the real-life application of stablecoins. The focus moves beyond trading and crypto-native transfers toward everyday payments. Emerging markets, where banking access is limited, are the primary target. SQRIL’s platform bridges traditional banks, fintech firms, and digital wallets with cross-border QR payment networks.

Cross-Border Payments Made Simple

SQRIL’s platform allows users to pay in their home currency while merchants receive local currency. Foreign exchange conversion and settlement happen automatically behind the scenes. Banks such as Barclays and Bank of America can integrate through standard APIs. Digital platforms like Venmo, Revolut, and Cash App also connect via the API. This setup enables scan-to-pay transactions globally without requiring new accounts or wallets.

The company currently supports QR payments in the Philippines, Vietnam, and Indonesia. Bank transfer functionality is live in Malaysia and Thailand. Additional countries across Asia, Africa, and Latin America are expected to come online in the first quarter of 2026. The expansion addresses rising demand for fast, low-cost payment methods.

Rising QR Payment Adoption

QR codes have become the dominant payment method in many Asian markets. In 2024, XRP was accepted for retail payments in South Korea via QR codes. Adoption in Latin America and Africa is also growing rapidly. National QR schemes continue to expand, supported by government financial inclusion initiatives.  Bybit Pay recently partnered with Armenia’s digital payment provider Idram to launch crypto QR payments across 25,000 retail locations. The shift reflects the need for accessible and interoperable payment systems.

SQRIL’s technology enables banks and digital platforms to integrate cross-border payments efficiently. Multi-currency settlements, local currency payouts, and automatic forex handling simplify transactions. The platform supports both traditional banks and modern digital wallets. Integration occurs through a single API, streamlining operations for institutions and users.

Linking Stablecoins to Everyday Payments

Tether’s investment strengthens the connection between stablecoins and QR-based payments. The partnership focuses on settlement speed, liquidity management, and cross-border efficiency. Stablecoins can lower costs and accelerate payments compared to traditional banking rails. 

QR-based payments in emerging markets could now influence global payment trends. The move signals a shift from speculative adoption toward practical integration. Stablecoins may increasingly support everyday commerce and cross-border spending through QR networks.