Here’s a timeline of Tether’s latest investments

The largest stablecoin issuer, Tether, has recently made many investments in crypto and artificial intelligence startups. These investments and the company’s move beyond stablecoins show that the entity is eager to expand its operations.

Over the past few months, Tether has set foot in other sectors such as peer-to-peer communication, Bitcoin mining, renewable energy and artificial intelligence.

The latest Tether investments

XREX Group is the latest company that Tether has invested in. Earlier this week, the stablecoin issuer announced that it had strategically injected $18.75 million into the blockchain-enabled financial institution to drive innovation and facilitate cross-border settlements using its stablecoin, USDT, for the emerging markets.

Tether’s funding will enable XREX to revolutionize financial transactions in emerging markets by offering businesses ease, efficiency and lower costs. In addition, XREX will collaborate with the Unitas Foundation to launch XAU1, a unitized stablecoin pegged to USD and overbooked with Tether Gold (XAUt).

Commenting on the pact, Tether CEO Paolo Ardoino said: “Tether’s strategic investment in XREX Group signifies our unwavering commitment to fostering financial inclusion in emerging markets. This latest investment aligns with the long-term vision Tether’s commitment to building a resilient infrastructure that extends beyond the boundaries of the crypto market, as evidenced by our diversified investments in various industry sectors.

More than a week ago, Tether entered into a $150 million private placement funding deal with blockchain and high-performance computing company Bitdeer. The deal gave Tether a private placement of 18,587,360 Class A common shares of Bitdeer and a warrant to buy up to 5,000,000 additional shares at $10 each.

Gross proceeds from the issuance generated $100 million, and Tether could bring in an additional $50 million if Bitdeer fully exercises the warrant.

Invest profits in AI

CryptoPotato reported in April that Tether became a major shareholder in Brain-Computer Interface (BCI) technology platform Blackrock Neurotech after investing $200 million in the company. Notably, the company has also dabbled in some AI-related ventures and has been looking for relevant talent to add to its AI team.

Tether’s latest moves align with Ardoino’s remarks during a recent interview with CryptoPotato at the Dubai 2024 Token2049 Conference. He said the industry could soon witness a trend of AI-related investments. The CEO also noted that Tether only invests its profits in AI projects.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!