Stablecoins are catching on fast. They promise broader financial freedom, but they also come with new risks that the industry still needs to sort out. That’s why tools like Zengo Wallet, which let users hold their own assets, are getting more and more attention.
Recognizing that true wealth security in crypto can only be achieved through self-ownership, Tether, the largest company in the digital assets industry, has made a strategic investment in Zengo Wallet, a platform offering robust protection against hacks and scams.
Zengo Wallet: For Default Security
Given how critical self-custody is in the on-chain space, Zengo Wallet is a welcome safe storage and trading solution, as it helps users secure their crypto fortune without traditional seed phrase weaknesses.
Seed phrases, essentially a “master key” to your funds, pose risks such as single points of failure, phishing attacks, and human error. Zengo eliminates these risks by using Multi-Party Computation (MPC) technology. MPC splits a private key into multiple pieces and distributes them across different locations, ensuring no single person ever has full access. This significantly strengthens security.
So far, the wallet has experienced zero hacks or phishing incidents, making it a powerful crypto storage solution.
The wallet also provides 24/7 customer support to help users navigate the complexities of crypto and self-custody. Its cross-chain features, whereby users can manage assets across multiple blockchains from a single wallet, make it an even more popular choice.
As a result, Zengo has gained the trust of over 1.5 million users.
Investing in Quality: Tether Partners with Zengo
Recognizing the growing demand for secure self-custodial solutions, Tether has made a strategic investment in Zengo Wallet. This move will help Zengo expand its blockchain-agnostic capabilities and offer seamless support for Tether’s stablecoins.
This investment, according to Tether CEO Paolo Ardoino, reflects the company’s ongoing commitment to providing “reliable and secure tools that empower users to take control of their digital assets.”
Zengo’s cross-chain functionality, integrated payment tools, and round-the-clock customer support make it well-positioned to serve both beginners and professionals, offering flexibility in how users store, transfer, and transact. This aligns with Tether’s broader mission of promoting financial access and security worldwide.
“By supporting Zengo’s innovative approach to self-custody, we aim to help more people worldwide access blockchain technology with confidence, ease, and security,” continued Ardoino. “Together, we are shaping the future of how stablecoins are used and adopted.”
Tether’s investment will enable Zengo Wallet to grow its premium offering, Zengo Pro, which is packed with a series of industry-first security features and advanced self-custody tools.
Specifically designed for institutions and professionals, this premium subscription service offers the industry’s first self-custodial inheritance-like system. Termed Legacy Transfer, this feature allows you to make secure crypto transfers to future generations.
To enhance user and fund safety, it comes with additional next-gen security features such as theft protection locked to the user’s liveness biometrics, an advanced Web3 Firewall, and real-time assistance. This premium subscription service further enables one to create up to five segregated wallets, whose addresses can be hidden to increase privacy. Bitcoin Vaults are also available for safe storage of BTC holdings.
Boosting USDT’s Accessibility & Self-Custody
As Zengo co-founder and CEO has said, “stablecoins are the cornerstone of an inclusive financial future,” reaffirming the position that their self-custody needs to be simple, secure, and accessible.
Now, that has become possible with Zengo Wallet, which provides seamless multi-chain USDT support in a single interface. Zengo’s blockchain-agnostic approach makes it a flexible and future-proof solution as the crypto space and new chains continue to grow and gain traction.
By allowing users to send, receive, and manage their USDT across different networks without having to switch wallets or deal with complex setups, Zengo simplifies the experience of holding and transacting with a stable digital asset. This way, Zengo addresses the growing demand for safe, user-controlled wallets to engage in savings, payments, and DeFi.
Enabling Wider Adoption with Zengo
Prices fluctuate and products come and go, but stablecoins are here to stay and will keep on growing. That’s because they are central to the crypto ecosystem’s growth. Pegged to assets like USD, stablecoins offer a hedge against volatility, enable fast transactions at low fees, and unlock accessible cross-border payments.
Among stablecoins, Tether’s USDT is the leading one. In March 2020, its market cap was around $4 billion. Today, it stands at $151.2 billion, holding 61.24% of the total stablecoin market. USDT also sees more daily trading volume than Bitcoin and Ethereum combined, and over five times more than the second-biggest stablecoin, USDC.
Used by over 400 million users, Tether continues to expand financial access globally. With Zengo’s help, it can now reach even more users by making crypto’s advanced tools easier and safer to use.
Towards a More Secure Future
By integrating multi-chain USDT, Zengo is allowing anyone, anywhere, to securely hold and use the stablecoin without relying on a centralized party. This gives people access to a stable digital dollar directly from their mobile devices.
Not only does Zengo remove the technical barriers of self-custody and offer flexibility, it also aligns with global regulatory trends, including the EU’s MiCA framework. As USDT faces regulatory pressure in the EU, a self-custodial wallet like Zengo lets users store their tokens freely without worrying about any restrictions.
This, combined with Zengo’s institutional-grade MPC tech and mobile-native interface, makes Zengo a perfect solution for both retail and enterprise needs.
Final Thoughts
With crypto attacks becoming more sophisticated, Zengo’s MPC technology, coupled with advanced security features like 3FA, Legacy Transfer, Theft Protection, and Firewall, offers a secure way to explore the wild world of crypto.
Here, Tether’s strategic investment signals a strong vote of confidence in Zengo’s capability, and together they are set to boost the stablecoin’s accessibility and usability in a trusted environment.
Download the Zengo Wallet today to experience Zengo’s payment revolution!
