20 hours ago
11 ARTICLE AD
The company, known for its $140 billion U.S. dollar stablecoin USDT, has made significant efforts to expand beyond its stablecoin operations this year.
Dec 20, 2024, 7:07 p.m. UTC
Tether, the crypto company behind the $140 billion cryptocrrency USDT, is working on an artificial intelligence (AI) platform and aiming to debut early next year, according an X post by CEO Paolo Ardoino.
"Just got the draft of the site for Tether's AI platform. Coming soon, targeting end Q1 2025," Ardoino posted on Friday.
Tether is known for issuing USDT, the most popular stablecoin in the market, but the company recently made significant efforts under Ardoino's leadership to expand its business beyond stablecoin issuance.
Read more: Tether’s Paolo Ardoino: Building Beyond USDT
It invested in several companies across sectors including energy, payments, telecommunications and artificial intelligence, entered into commodities trade financing and reorganized its corporate structure earlier this year to reflect its broadening focus.
Last year, Tether acquired a stake in artificial intelligence and cloud computing firm Northern Data, indicating its growing interest in AI.
While details were scarce about the upcoming AI platform, Tether's ambition to release a product in the red-hot industry also underscores the growing intersection of crypto and artificial intelligence.
CoinDesk reached out to Tether for more details about the upcoming product, but the company did not reply by press time.
Krisztian Sandor
Krisztian Sandor recently graduated from NYU's business and economic reporter program as a Fulbright fellow and worked with Reuters and Forbes previously. Originally from Budapest, Hungary, he is now based in New York. He holds BTC and ETH.
