Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins

Tether launches investment, mining, training, and digital asset management divisions

18.04.2024 - 15:12

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4 min

What’s new? Tether, which issues the largest USDT stablecoin in the crypto market with a capitalization of $109,6 billion, has updated its organizational structure, resulting in the launch of four independent business units of the company. Thus, Tether Data is engaged in development and strategic investments in innovative technologies, Tether Power is responsible for the bitcoin mining business, Tether Edu offers global educational courses, and Tether Finance focuses on financial services, including USDT management.

Press release

What else is known? Tether Data’s technology division will support developments in emerging technologies such as artificial intelligence and peer-to-peer (P2P) platforms. The company previously launched its own platform for creating encrypted peer-to-peer applications, Holepunch, which was the basis for the Keet and Pear Runtime products. The company also invested in Germany’s Northern Data Group, which uses AI technologies and has a mining division.

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Tether Power is focused on sustainable mining, it “aligning with responsible practices to secure the integrity of the world’s most robust monetary network.” Tether previously started building mining farms in Uruguay, Paraguay, and El Salvador with a capacity of up to 70 MW each, and has also released Moria software to manage BTC mining devices. The company allocated $500 million in the first six months alone to develop its mining direction.

Tether Edu is focused on expanding global access to skills training in digital and other advanced technologies. Tether Edu’s portfolio includes public-private partnerships such as the annual Plan B student course in Lugano, Switzerland, investments in the Academy of Digital Industries platform and blockchain courses at Georgia’s Business and Technology University (BTU). Overall, Tether Edu will focus on emerging markets in Africa, Latin America, the Middle East, Europe, CIS, and Asia.

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Tether Finance is a digital asset servicing division, this division will manage the issuance and redemption of stablecoins and will soon launch a real-world asset tokenization platform that anyone can use.

“We disrupted the traditional financial landscape with the world’s first and most trusted stablecoin. Now, we’re daring to kickstart inclusive infrastructure solutions, dismantling traditional systems for fairness <...> 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. We’re Tether. We use technology to empower individuals, communities, cities and nations to become self-sustainable, independent, and free,” said Tether CEO Paolo Ardoino.
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Late last year, Ardoino announced the release of five new projects in 2024. According to him, a “Couple of these could obliterate some popular Web 2.0 centralized services for good.”

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