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Tether’s recent moves align with Ardoino’s statements during a recent interview at the 2024 Token2049 Dubai Conference. As the largest stablecoin issuer, Tether has recently made numerous investments in emerging crypto and artificial intelligence firms. These investments and the company’s progress beyond stablecoins indicate a willingness to expand its operations.
Notable Steps by Tether
XREX Group became the latest firm to receive investment from Tether. Earlier this week, the stablecoin issuer announced a strategic injection of $18.75 million into the blockchain-enabled financial institution to foster innovation and facilitate cross-border payments through its flagship stablecoin USDT.
Tether’s funding will enable XREX to revolutionize financial transactions in emerging markets by offering convenience, efficiency, and lower costs to businesses. Additionally, XREX will collaborate with the Unitas Foundation to launch XAU1, a USD-pegged composite stablecoin over-reserved with Tether Gold (XAUt). Commenting on the agreement, Tether CEO Paolo Ardoino said:
“Tether’s strategic investment in XREX Group demonstrates our unwavering commitment to promoting financial inclusion in emerging markets. This latest investment aligns with Tether’s long-term vision of building a resilient infrastructure that extends beyond the boundaries of the crypto market, as evidenced by our diversified investments across various industry sectors.”
Tether and Investment Moves
Over a week ago, Tether entered into a $150 million private placement financing agreement with blockchain and high-performance computing firm Bitdeer. The agreement granted Tether the private placement of 18,587,360 Bitdeer’s Class A common shares and warrants to purchase up to an additional 5,000,000 shares at $10 each.
The gross proceeds from the issuance amounted to $100 million, and Tether could provide an extra $50 million if Bitdeer fully exercises the warrants. In April, Tether reported becoming a significant shareholder in Brain-Computer Interface (BCI) technology platform Blackrock Neurotech after investing $200 million in the firm. The company is particularly interested in some AI-related firms and is seeking relevant talents to add to its AI team.
