Saber Money plans to widen its cross-border payment business across Asia-Pacific and the Gulf by building local banking and licensing access, according to the company's Oct. 15 announcement.
Tether and CMCC Global’s Titan Fund provided strategic funding. The announcement did not specify the investment amount or ownership stakes.
Saber plans to build on corridors it already serves while pursuing other emerging markets. It also intends to develop business-to-business payment products; the announcement did not identify target markets or a rollout schedule.
The company said payment volume multiplied more than sixfold during a nine-month period. It reported handling billions of dollars across more than 40 countries and completing over 90% of payments in less than a minute.
The announcement cited the Titan Fund co-founder’s view that cross-border payments in the region are costly and fragmented, with outdated systems still in use.
