Tether USDT Unveils Plans for AI, Finance, Mining, and Education Ventures

Tether, the world’s largest stablecoin issuer USDT, restructured the business According to the company’s post on X, four new strategic divisions have been added, including Tether Data, Tether Finance, Tether Power, and Tether Edu.

Tether has added four divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu.

This development is part of Tether’s plan to expand beyond stablecoin offerings. USDT’s market capitalization is currently around $107 billion, significantly larger than the second-largest stablecoin USDC.

Through its new venture, Tether aims to build a future-proof financial and technology ecosystem, fostering economic freedom, decentralization, and widespread adoption of digital assets.

Tether brings new goals

The company’s goal is solutions that can adapt to the needs of individuals and communities while keeping sustainability in mind. They want to economically empower individuals and communities.

According to Tether, Tether Data invests in and develops emerging technologies such as artificial intelligence (AI) and peer-to-peer platforms. Previously, Tether announced his AI efforts. The company is setting a new standard in the industry with open source AI models.

Tether Finance focuses on traditional stablecoin products and financial services with the goal of building a more democratic financial system using blockchain technology. The company has also revealed its upcoming digital asset tokenization platform.

wider network

Tether CEO Paolo Ardoino said on Monday that Tether will launch a tokenization platform. As mentioned earlier, the new platform will support multiple chains, tokens, and will not be custodial. Ardoino added that everything from funds to coffee reward points can be tokenized.

Additionally, Tether Power is committed to sustainable Bitcoin mining operations to ensure the security of the Bitcoin network. Finally, Tether Edu aims to provide education and awareness about digital technologies such as blockchain. The company is partnering with various institutions to promote the adoption of these technologies.

“With this evolution beyond traditional stablecoin offerings, we are poised to build and support the invention and implementation of cutting-edge technology that removes the limits of what is possible in this world.” Ardoino said. “We use technology to empower individuals, communities, cities, and nations to become self-reliant, independent, and free. Together, we can be unstoppable.”

Last year, Tether ramped up its Bitcoin mining operations in Uruguay and focused on processing payments in Georgia. The company recently announced that it is nearing completion of a $500 million investment in Bitcoin mining.

In the AI ​​space, Tether loaned cloud data service provider Northern Data Group $610 million and invested $420 million to buy GPUs from Nvidia. These moves already signal the company’s plans to expand its focus on AI.

Regulators want more information

Meanwhile, Tether remains under strong supervision due to USDT asset guarantee issues. The largest stablecoin issuer in the crypto market achieved profits of up to $6.2 billion in 2023.

Tether CEO Paolo Ardoino said in an interview with DL News that the reason the company has not yet submitted its asset audit report is because the four major companies have refused to provide the service. These companies may fear reputational damage from working with Tether.

Nevertheless, Ardoino said Tether’s top priority is to work with one of these auditors.

Tether is not only the force behind the dominant stablecoin, but also one of the largest Bitcoin holders. Tether reportedly holds 75,354 Bitcoins, worth approximately $5.24 billion. The company recently added 8.888 Bitcoins to its holdings.

A number of other companies, including MicroStrategy and El Salvador, have also been actively adding Bitcoin to their holdings since late last year.

Tether first announced its investment in Bitcoin in its Q1 2023 Asset Certification Report. At the time, the company added that it would deduct 15% of its retained earnings each month to reallocate reserve assets from government bonds to Bitcoin.

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