The company behind the biggest stablecoin in the world, Tether, is building an artificial intelligence (AI) unit and is currently hiring to staff it.
The company said on Tuesday that the subsidiary will concentrate on creating open-source AI models and working with other businesses to incorporate them into solutions that may solve problems in the real world.
On its website, Tether posted a job opening for an AI engineer and the position of head of AI research and development. The firm is most well-known for its stablecoin (USDT), a cryptocurrency token with a $105 billion market capitalization that is based on the dollar.
CEO Paolo Ardoino stated in the announcement on Tuesday that the division will “redefine AI boundaries and democratise privacy-preserving open AI technology.”
The new division carries on Tether’s AI strategy development, which started the previous year with an investment in Northern Data (NB2), a Frankfurt Stock Exchange-listed company that switched from mining cryptocurrencies to offering processing capacity for data processing linked to artificial intelligence.