Stablecoin issuer Tether invested $2 million in Arcanum Capital's Arcanum Emerging Technologies Fund II, which is a tokenized investment vehicle focused on decentralized Web3 projects.

James McDowall, the managing partner of Arcanum Capital, stated that the fund invests in blockchain technology to enhance remittances, cross-border payments, privacy, and provide banking services to the unbanked population. Tether's CEO Paolo Ardoino stated that censorship resistance and promoting open communication are the main objectives of Tether and the fund.