Sorted Wallet Raises $4.4 Million to Expand Stablecoin Payments Across Emerging Markets

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Crypto wallet startup Sorted Wallet has raised $4.4 million in seed funding as investors continue backing companies developing stablecoin payment infrastructure for users in emerging markets.

The funding round was co-led by Tether and Gnosis, with participation from Movement Labs, Angel Invest and several angel investors, including founders associated with RWA.io. The company said the financing includes $3.4 million in equity funding and $1 million in strategic support from telecommunications infrastructure provider Vox Solutions.

Founded in 2022, Sorted develops a non-custodial crypto wallet designed for feature phones and low-cost Android devices commonly used in parts of Africa and South Asia. The application occupies roughly 10MB of storage and is intended for users with limited internet access or lower-end mobile hardware.

Company Targets Users Outside Traditional Banking Systems

Sorted said its wallet has recorded more than 500,000 downloads across 160 countries. Nigeria, Kenya, Tanzania and Bangladesh are currently among the company’s fastest-growing markets.

The startup focuses on stablecoin payments and remittance services for users facing limited banking access, volatile local currencies and high cross-border transfer costs. The company plans to use the funding to expand operations in Sub-Saharan Africa and South Asia, strengthen telecom and mobile money integrations, and develop additional payment features.

The funding round also highlights how Tether backs stablecoin remittance startups and payment infrastructure companies focused on improving financial access across developing economies.

Stablecoin Infrastructure Continues Drawing Investor Interest

The investment reflects broader investor interest in stablecoin-related payment infrastructure following a slowdown in speculative crypto trading activity over the past two years.

Venture firms and digital asset companies have increasingly shifted attention toward businesses developing payment rails, remittance systems and financial access products linked to dollar-backed stablecoins such as USDT.

Tether’s participation also highlights the company’s expansion beyond stablecoin issuance into broader infrastructure investments. In recent years, the firm has backed projects tied to communications, payments and financial services targeting emerging economies.

Tether Chief Executive Paolo Ardoino said in a statement that expanding financial access requires products capable of operating on lower-cost devices and limited mobile data connections.

Gnosis, which develops blockchain infrastructure and decentralized finance tools, said it sees wallet accessibility as an important component of stablecoin adoption in underserved markets.

Emerging Markets Become Key Area for Stablecoin Adoption

The funding comes as stablecoin usage continues rising across several developing economies experiencing inflation, currency depreciation and limited access to U.S. dollar banking services.

In countries including Nigeria and Argentina, stablecoins have increasingly been used for remittances, savings and cross-border commercial payments. Blockchain analytics firms have reported growing peer-to-peer stablecoin activity in regions with unstable local currencies and expensive international transfer systems.

At the same time, fintech and crypto companies are competing to integrate stablecoin banking services directly with telecom operators and mobile money platforms that dominate digital payments across parts of Africa and South Asia.

However, the sector remains subject to regulatory uncertainty. Governments and regulators across multiple jurisdictions continue developing rules around stablecoin reserves, anti-money laundering compliance and consumer protection standards for crypto payment services.

FAQs

1. How much funding did Sorted raise?
The company raised $4.4 million in seed funding, including equity financing and strategic support.

2. Who invested in Sorted?
The funding round was co-led by Tether and Gnosis, with participation from Movement Labs, Angel Invest and angel investors associated with RWA.io.

3. What will the company use the funding for?
Sorted plans to expand across Sub-Saharan Africa and South Asia, improve telecom integrations and introduce additional payment services.