Tether announces restructuring to go beyond stablecoins

    2024.04.18 | exchangesranking | 52onlookers

    Tether — the operator of the eponymous Tether (USDT) stablecoin, the world’s largest stablecoin by market value — is restructuring to introduce new divisions beyond stablecoin development.

    The stablecoin giant has launched a new framework introducing four new business divisions, including Tether Data, Tether Finance, Tether Power and Tether Edu, according to an official announcement on April 18.

    With the new divisions, Tether aims to expand its mission to provide a range of new infrastructure solutions, investments and services.

    At Tether Data, the company will focus on strategic investments in technologies, including artificial intelligence and peer-to-peer platforms like Holepunch, Keet and Pear Runtime.

    Tether Finance will serve as the hub of Tether’s traditional stablecoin products and financial services aiming to democratize the global financial system, the announcement notes.

    Tether Power targets further development of Tether’s mining and energy efforts, while Tether Edu will focus on digital education and promotion of blockchain adoption regionally and globally.

    “We disrupted the traditional financial landscape with the world’s first and most trusted stablecoin,” Tether CEO Paolo Ardoino said, stressing that now the company is “daring to kick-start inclusive infrastructure solutions, dismantling traditional systems for fairness.”

    He continued:

    “With this evolution beyond our traditional stablecoin offerings, we are ready to build and support the invention and implementation of cutting-edge technology that removes the limitations of what’s possible in this world.”

    This is a developing story, and further information will be added as it becomes available.

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