According to CEO Paolo Ardoino, Tether, the company that develops stablecoins, anticipates closing deals worth $1 billion in the upcoming year, as reported by Bloomberg on Tuesday.
According to Ardoino in an interview, Tether is concentrating its investments on biotech, AI, and financial infrastructure. In the last two years, the corporation has also invested almost $2 billion in these sectors, and it anticipates that this trend will continue. In order to generate billions of dollars in profit, Tether, the company behind the biggest stablecoin in the world, USDT, invests the majority of its assets in US Treasury bills and other securities. A portion of money will be set aside for deals, according to Ardoino.
“It’s all about investing in technology that helps with disintermediation with traditional finance,” he said. “Less reliance on big tech companies like Google, Amazon and Microsoft.”
Tether’s $200 million majority investment in Blackrock Neurotech, a firm that develops brain-computer interfaces, and its partnership with Northern Data Group, a supplier of data clouds, are two of its most prominent investments to date.