SQRIL Strengthens Global Payments Network With Backing From Tether

Stablecoin issuer Tether has confirmed a fresh investment in SQRIL, a Southeast Asia–based payments startup focused on real-time QR code transactions across borders. The funding amount remains undisclosed. The move highlights Tether’s growing interest in practical payment infrastructure beyond the issuance of stablecoins.

SQRIL operates as a payments API switch. It allows banks, digital wallets, and fintech platforms to offer scan-and-pay QR services to users traveling or transacting internationally. The system is designed to let users pay in their home currency while merchants receive funds in local currency. Currency conversion and settlement are handled directly within SQRIL’s network.

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Tether Expands Beyond Stablecoins

Tether’s investment signals a broader push into payment rails that support everyday commerce. The company has increasingly backed infrastructure projects that align stablecoins with real-world usage. By supporting SQRIL, Tether strengthens its position in cross-border payment innovation.

The partnership targets the deeper study and integration of QR payment and stablecoin payment systems. This could facilitate easier cross-border payments. The rising demand for efficient and cheap payment systems may be the reason why this payment method has evolved.

Major markets of SQRIL are Asia, Africa, and Latin America. These regions have witnessed the penetration of the QR code payment method because of mobile-based economies.

SQRIL’s Cross-Border Payment Model

SQRIL’s Cross-Border Payment Model spans traditional banking systems and newly emerging fintech companies via a single common network. Large banks, such as Barclays and Bank of America, are able to network alongside applications such as Venmo, Revolut, and Cash App. Integration occurs via the API.

The platform allows users to scan local QR codes when roaming overseas using their existing banking or wallet apps to access their funds. Funds are settled in real-time. Businesses get paid in their local currency, eliminating exchange rates and the exchange process.

It also facilitates the national QR network that is common in the Asian region and is on the rise in Africa and Latin America. SQRIL has its API running in the Philippines, Vietnam, and Indonesia. Bank transfers are also available in Malaysia and Thailand.

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