Tether announces $3 million strategic investment in financial management platform Kem

According to reports on August 13th, Tether Operations Limited announced a strategic investment of $3 million in the Kem app. Kem is a platform for transfers and financial management. This investment aims to improve the economic situation of neighboring countries, including Kuwait, Bahrain, Saudi Arabia, Qatar, and Iraq, by promoting the widespread adoption of USD₮ on the Kem platform in the Middle East. The Middle East and North Africa (MENA) is the world's sixth-largest cryptocurrency economy, with on-chain transaction values of approximately $389.8 billion from July 2022 to June 2023, accounting for 7.2% of global trading volume. Gulf countries such as Dubai and Abu Dhabi are particularly interested in cryptocurrencies.