Tether invests $200m in biotech firm Blackrock Neurotech

Stablecoin issuer Tether has invested $200 million in Blackrock Neurotech through its venture division Tether Evo.

The investment positions Tether as the majority shareholder of the biotech firm known for its advances in brain-computer interface (BCI) technology. The funds will expand Blackrock Neurotech’s ability to commercialize its medical tools and advance its research and development initiatives.

The investment comes after Tether announced a record net profit of $2.9 billion in the fourth quarter of 2023.

“Blackrock Neurotech is just the beginning of our journey through Tether Evo to embark on projects that redefine the boundaries of what is possible at the intersection of technological innovation and human potential,” said Ardoino, adding that Blackrock’s technology will be used in communication, rehabilitation and cognitive functions.

Meet Tether evo 🧠✨🦾

From biotechnology to artificial intelligence and beyond, Tether’s investment in Blackrock Neurotech is just the beginning of our journey into pioneering projects that redefine the boundaries of what is possible and empower people through the inevitable future evolution. pic.twitter.com/LcCngQPPUZ

— Tether (@Tether_to) April 29, 2024

Founded in 2008, Blackrock Neurotech is a leader in brain-computer interface technology that enables patients with stroke and neurological disorders to control devices through thought. In 2016, Nathan Copeland used this technology to interact with former US President Barack Obama.

Blackrock Neurotech co-founder Dr. Florian Solzbacher thinks the partnership with Tether is vital for advancing health technologies.

Tether’s investment through its Tether Evo division is part of its expansion beyond stablecoins. The company created additional divisions such as Tether Data, Tether Finance, Tether Power and Tether Education to integrate technology and human potential.