According to ChainCatcher news, Tether, the issuer of stablecoins, has invested $2 million in Arcanum Capital's Arcanum Emerging Technology Fund II, the first crypto venture capital fund specifically focused on tokenized investments in decentralized Web3 projects.
James McDowall, the managing partner of Arcanum Capital, revealed that the fund focuses on investing in blockchain technology that can enhance remittances, cross-border payments, privacy protection, and provide banking services for the unbanked population. Paolo Ardoino, CEO of Tether, emphasized in an interview that the common goal of Tether and the fund is to promote open communication while resisting scrutiny.