Tether leads 7 million dollar Series A for Pact Labs

Tether led a 7 million dollar Series A funding round for Pact Labs, a stablecoin infrastructure company. Blockchange Ventures and Lasagna also participated in the round. Pact Labs plans to build infrastructure to use its stablecoin, USAT, for payroll, earned wage access, credit, and daily payments. Tether CEO Paolo Ardoino stated that while USDT has been addressing payroll gaps in emerging markets, the company aims to extend this functionality to the U.S. with USAT.

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