Tether announces plan to reorganize into four new divisions

Tether, the issuer of the USDT stablecoin, announced it is reorganizing to venture into broader digital asset sectors.

The developer of the world's largest stablecoin by market cap has formed four divisions to reflect its broadening focus.The company's USDT stablecoin will be managed by a group called "Tether Finance," while another division, named "Tether Power," will manage the company's investments in bitcoin mining. A third division, "Tether Data," will oversee strategic investments in technology, including artificial intelligence .

The company said in a blog post on Thursday that "Tether’s expansion beyond its well-established USDT stablecoin signifies a paradigm shift in its approach to financial empowerment." "By focusing on sustainable solutions adaptive to the needs of individuals, communities, cities and countries, responsible Bitcoin mining, Artificial Intelligence infrastructure and decentralized communication platforms, Tether is actively contributing to a future-proof financial and tech ecosystem," the statement said.

Tether CEO Paolo Ardoino said that the firm's evolution beyond its traditional stablecoin offering allows it to support the invention and implementation of technology "to empower individuals, communities, cities and nations to become self-sustainable, independent, and free."Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tether announces restructuring to go beyond stablecoinsTether stablecoin giant has officially introduced its four new business divisions, including Tether Data, Tether Finance, Tether Power and Tether Edu.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Ripple's Future Stablecoin Vs Tether’s USDT: Gabor Gurbacs Shares Hot TakeGabor Gurbacs shares his comment on Ripple’s plans to penetrate the market dominated by Tether’s USDT
Source: Utoday_en - 🏆 295. / 63 Read more »

USDT stablecoin issuer Tether hiring for AI divisionUSDT issuer Tether Operations Limited said it is trying to expand its AI capabilities by setting up an AI division.
Source: TheBlock__ - 🏆 464. / 53 Read more »

US Treasury: Russia Turns to Tether (USDT) to Evade SanctionsUndersecretary of the U.S. Treasury, Wally Adeyemo, reveals that Russia is using Tether (USDT) to bypass sanctions and support its military operations.
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Tether's $5.25 Billion Surge Sparks Speculation, Is This Good for Bitcoin (BTC)?Tether's (USDT) $5.25 billion supply boom to power Bitcoin growth
Source: Utoday_en - 🏆 295. / 63 Read more »

Tron’s Bitcoin layer 2 plan could see ’wrapped’ USDT flow into BitcoinJustin Sun’s Tron is looking to build a Bitcoin layer-2 solution to support a “wrapped” version of USDT on Bitcoin.
Source: Cointelegraph - 🏆 562. / 51 Read more »