Tether Announces Company Restructuring for Broader Crypto Play

Tether is expanding its scope beyond stablecoins by introducing four new divisions dedicated to building the future of blockchain.

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  • Tether has been making big moves by branching out beyond stablecoins with the creation of four new divisions.
  • Tether Data has hinted at its interest in AI and peer-to-peer tech for future blockchain applications.
  • Tether’s CEO has emphasized the company’s commitment to building the future of blockchain technology.

Tether, the company behind the world’s leading stablecoin USDT, is undergoing a significant restructuring. Announced on April 18th, the move aims to push Tether beyond its core stablecoin business and establish itself as a broader player in the cryptocurrency ecosystem.

Tether Expands Beyond Stablecoins

This restructuring involves the creation of four new divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu. Each division focuses on a specific area of growth for Tether.

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Tether Data will concentrate on strategic investments in emerging technologies relevant to the cryptocurrency industry. This includes artificial intelligence and peer-to-peer infrastructure solutions like Holepunch, Keet, and Pear Runtime. These investments suggest Tether’s interest in exploring the potential of these technologies to enhance future blockchain applications.

Tether Finance, on the other hand, will remain the central hub for Tether’s existing stablecoin products and financial services. The announcement emphasizes Tether’s continued commitment to “democratize the global financial system” through its established stablecoin offerings.

Focusing on the future of blockchain adoption, Tether Power will target further development in Tether’s mining and energy efforts. This could indicate Tether’s plans to contribute to the infrastructure needed to support a growing blockchain ecosystem.

Finally, Tether Edu highlights the company’s commitment to fostering broader blockchain understanding. This division will focus on digital education initiatives aimed at promoting regional and global adoption of blockchain technology.

Tether CEO: “We’re Building the Future of Blockchain”

Tether CEO Paolo Ardoino emphasized that they had disrupted the traditional financial landscape with the world’s first and most trusted stablecoin. He further explained that their current focus is on initiating inclusive infrastructure solutions, aiming to dismantle traditional systems for fairness.

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“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.” exclaimed Ardoino.

Ardoino’s statement underscores Tether’s ambition to become a key player in shaping the future of blockchain technology. By investing in new technologies, supporting established financial services, and fostering education, Tether is signaling its intention to be a driving force in the ongoing cryptocurrency revolution.

On the Flipside

  • Tether’s expansion into various sectors of the cryptocurrency ecosystem could lead to a single entity exerting significant control over different aspects of the industry. 
  • Tether’s focus on education through Tether Edu might be seen as a way to shape public perception and potentially attract new users to their own products and services, rather than promoting entirely neutral blockchain education.

Why This Matters

By venturing into new areas like data, education, and potentially even blockchain infrastructure, Tether is not only hedging its bets but also actively shaping the future functionalities and adoption of cryptocurrencies. This move suggests that Tether sees itself as a foundational pillar for the future of blockchain technology.

Curious about the latest developments in the Ripple vs. SEC lawsuit? This article explores the upcoming filing deadlines and discusses the possibility of a settlement:
Here’s Why Tether Is Getting Heat from U.S. over Russian Use

Following the recent court case that could impact the SEC’s lawsuit against Ripple? This article dives into the details and explores the potential implications for the cryptocurrency industry:
US Stablecoin Bill Aims to Rein In Crypto’s Dollar Substitute

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.