7 months ago
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Tether is establishing four new divisions focusing on data, finance, power (Bitcoin mining and energy), and education. The new ventures are part of the company’s ongoing efforts to build a more inclusive financial and technological future, Tether shared in a news release today.
According to the team, the new divisions, named Tether Data, Tether Finance, Tether Power, and Tether Edu, target a wide range of services, such as data management, financial services built on blockchain technology, sustainable Bitcoin mining, Artificial Intelligence (AI), and digital education initiatives.
Moving beyond its core business of offering USDT, Tether’s goal is to create financial products and services accessible to everyone, regardless of location or background.
This includes building infrastructure that supports the adoption of digital assets and educating people about these new technologies. Tether said it has partnered with various institutions and initiatives to promote widespread adoption of these technologies.
Notably, the company wants to use blockchain technology to create a more democratic financial system. Tether also revealed its plans to launch a digital asset tokenization platform, making it easier for people to participate in the digital asset space.
Earlier this week, Paolo Ardoino, CEO of Tether, hinted that Tether would soon launch its own tokenization platform. The platform will be completely non-custodial and customizable with multi-chain and multi-asset support. Ardoino said it would enable the tokenization of everything, from bonds, stocks, or funds to rewards points.
Ardoino believes the new ventures will lead to a future-proof financial and tech ecosystem that’s accessible, sustainable, and empowering for individuals and communities worldwide.
“Thriving together is in our DNA. 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,” said Ardoino.
“With this evolution beyond our traditional stablecoin offerings, 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. Be unstoppable, together,” added he.
Last week, Ardoino revealed that Tether’s $500 million Bitcoin mining project is close to its final stage. The investment has been used to set up mining facilities and renewable energy plants in Uruguay, Paraguay, and El Salvador. The company aims to make Bitcoin mining more decentralized.
Last month, Tether officially announced its expansion into AI to address concerns about monopolizing technology development in the sector. The company will focus on developing open-source models and setting new industry standards.
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