According to CryptoPotato, Tether, the largest stablecoin issuing company, has been actively investing in emerging crypto and artificial intelligence (AI) firms. This move indicates Tether's interest in expanding its operations beyond stablecoins. In recent months, the company has ventured into sectors such as peer-to-peer communication, Bitcoin mining, renewable energy, and AI.
Tether's latest investment is in XREX Group, a blockchain-enabled financial institution. Earlier this week, Tether announced a strategic investment of $18.75 million into XREX to drive innovation and facilitate cross-border settlements via its flagship stablecoin, USDT, for emerging markets. This funding will enable XREX to revolutionize financial transactions in emerging markets by offering businesses ease, efficiency, and lower costs. Additionally, XREX will collaborate with the Unitas Foundation to launch XAU1, a USD-pegged unitized stablecoin over-reserved with Tether Gold (XAUt).
Tether CEO Paolo Ardoino commented on the investment, stating that it signifies Tether's commitment to fostering financial inclusion in emerging markets. He added that the investment aligns with Tether's long-term vision of building a resilient infrastructure that extends beyond the confines of the crypto market.
In another recent deal, Tether entered a $150 million private placement financing agreement with blockchain and high-performance computing firm Bitdeer. This agreement gave Tether a private placement of 18,587,360 Bitdeer’s Class A ordinary shares and a warrant to purchase up to 5,000,000 additional shares at $10 each. The gross proceeds from the issuance generated $100 million, and Tether could provide an extra $50 million if Bitdeer fully exercises the warrant.
Tether has also invested in AI, becoming a major stakeholder in the Brain-Computer Interface (BCI) technology platform Blackrock Neurotech after investing $200 million. The firm has also shown interest in other AI-related firms and is actively seeking relevant talents to join its AI team. Ardoino, in a recent interview, mentioned that the industry could soon witness a trend of AI-related investments and that Tether only invests its profits in AI projects.
