Sorted Wallet has successfully raised $4.4 million in a seed funding round led by Tether and Gnosis, aimed at expanding stablecoin payment infrastructure for feature phones in emerging markets. The funding includes $3.4 million in equity capital from Tether and Gnosis, with additional contributions from Movement, Angel Invest Group, and angel investors, including RWA.io founders. Vox Solutions provided $1 million in strategic support.
The investment will help Sorted address the gap in crypto access for users without smartphones or large data plans, focusing on low-cost payments and remittances. Since its founding in 2022, Sorted has achieved over 500,000 downloads, with significant growth in countries like Nigeria, Kenya, and Bangladesh. The funds will be used to expand into Sub-Saharan Africa and South Asia, enhance telecom integrations, and launch a new payment mechanism in May.
Tether CEO Paolo Ardoino emphasized the importance of infrastructure that supports financial inclusion, while Gnosis highlighted Sorted's role in stablecoin-based payments. This funding round reflects ongoing interest in leveraging stablecoins for accessible financial services in underserved regions.
Sorted Wallet Secures $4.4M Seed Round to Boost Stablecoin Payments
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