According to ChainCatcher, as reported by Cointelegraph, stablecoin issuer Tether has invested its first crypto venture capital fund in Arcanum Capital's Arcanum Emerging Technology Fund II, which is a tokenized investment vehicle dedicated to decentralized Web3 projects, with an investment amount of 2 million dollars.
Arcanum Capital's managing partner James McDowall revealed that the fund focuses on investing in blockchain technologies that can enhance remittances, cross-border payments, privacy protection, and provide banking services to the unbanked population. Tether's CEO Paolo Ardoino emphasized in an interview that the common goal of Tether and the fund is to promote open communication while resisting censorship.