Tether announces restructuring to go beyond stablecoins

Tether, the company behind the well-known USDT stablecoin and the largest stablecoin by market value, is undergoing reorganization to establish additional departments beyond managing its stablecoin operations.

A major player in stablecoins unveiled a new organizational structure with the introduction of four distinct business units: Tether Data, Tether Finance, Tether Energy, and Tether Education, as stated in an April 18 press release.

Using the latest developments, Tether intends to broaden its scope to offer various infrastructure options, investment opportunities, and services.

At Tether Data, we plan to prioritize investments in advanced technologies such as artificial intelligence and decentralized platforms like Holepunch, Keet, and Pear Runtime.

Tether Finance acts as the central platform for Tether’s conventional stablecoins and financial solutions, with the goal of making the global financial system more accessible to all, according to the announcement.

Tether Power is committed to advancing Tether’s mining and energy projects, while Tether Edu will prioritize digital education and champion the use of blockchain technology both locally and internationally.

“Tether’s CEO Paolo Ardoino declared that we revolutionized the financial industry with the debut of the reliable first stablecoin. Now, we’re boldly initiating equitable infrastructure projects, challenging and dismantling outdated systems for a more balanced approach,” – is one way to paraphrase the original statement while maintaining its meaning and flow.

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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2024-04-18 13:57