Stablecoin issuer Tether (USDT) says it’s branching out and advancing beyond just offering dollar-pegged crypto assets.
In a new announcement, Tether says that it is adding four new divisions to its business model – data, finance, power, and education – as a means of creating an inclusive, future-proof financial and tech ecosystem.
“Tether’s expansion beyond its well-established USDT stablecoin signifies a paradigm shift in its approach to financial empowerment.
By focusing on sustainable solutions adaptive to the needs of individuals, communities, cities and countries, responsible Bitcoin mining, artificial intelligence infrastructure and decentralized communication platforms, Tether is actively contributing to a future-proof financial and tech ecosystem.”
According to the crypto firm, Tether Data will focus on development and investment into emerging technologies, such as artificial intelligence (AI) and peer-to-peer platforms while Tether Power will see the company venture into the world of crypto mining, specifically Bitcoin (BTC), for the first time.
Furthermore, Tether Finance will work to build financial infrastructure, such as an upcoming digital asset tokenization platform, while Tether Edu aims to expand knowledge of digital assets across the globe.
As stated by Tether chief executive Paolo Ardoino in the announcement,
“Thriving together is in our DNA. We disrupted the traditional financial landscape with the world’s first and most trusted stablecoin. Now, we’re daring to kickstart inclusive infrastructure solutions, dismantling traditional systems for fairness.
With this evolution beyond our traditional stablecoin offerings, we are ready to build and support the invention and implementation of cutting-edge technology that removes the limitations of what’s possible in this world.”
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Source: https://dailyhodl.com/2024/04/18/beyond-stablecoins-usdt-issuer-tether-announces-new-distinct-business-divisions/