The company behind the biggest stablecoin in the world, Tether, has announced that it is restructuring as it moves into new digital asset categories.
The USDT issuer said in a release on Thursday that it has divided into four sections to reflect its expanding focus.
The four divisions—Data, Finance, Power, and Edu(cation)—will manage strategic investments in digital education, financial infrastructure, technology, and bitcoin mining, in that order.
With a market valuation of more than $100 billion, USDT is the biggest stablecoin in the world. Stablecoins are digital currencies whose value is related to a real-world asset, often the US dollar. However, Tether has come under intense criticism due to the impression that the reserves backing USDT are unclear.