Stablecoin issuer Tether invests $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. Tether CEO Paolo Ardoino stated that anti-censorship and promoting open communication are primary goals of Tether and the fund.