Tether backs Saber Money as payments firm targets Asia and Gulf expansion

Saber Money has secured strategic funding from stablecoin issuer Tether and CMCC Global’s Titan Fund to expand its cross-border payment operations across Asia-Pacific and the Gulf region. Summary Tether and CMCC Global’s Titan Fund have invested in Saber Money to support its expansion across Asia and the Gulf region. Saber plans to secure new regulatory licenses and banking partnerships while developing payment services for businesses. The company reported more than sixfold growth in payment volumes over nine months, processing billions of dollars across more than 40 countries. Over 90% of Saber’s payments are completed in under one minute, according to the company. According to the company’s announcement, the investment will support new regulatory licenses, banking partnerships and payment products designed for businesses operating across emerging markets. Saber did not disclose the amount raised or the valuation attached to the funding. The company plans to use the capital to strengthen its operations in existing markets while entering new payment corridors. Local banking relationships and regulatory approvals will be central to its expansion strategy, particularly in markets whe...