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USDT issuer announced restructuring and entry into new markets

Altcoins: USDT issuer announced restructuring and entry into new markets

Tether recently unveiled its reorganization strategy and fresh prospects to expand its horizons beyond the stable coin realm. According to an official statement, the company behind the USDT stable coin intends to significantly expand its presence in the #Web3 sphere.

The revised organizational structure will include four new segments. These new areas include:

  • Tether Data - the strategic technology investment wing. This sector will focus on funding promising decentralized platforms and advances in #artificial intelligence;
  • Tether Finance - the digital asset management division. This segment, dubbed as the "foundation" of the company, will serve conventional products and services in the #stablecoin sector. It will also oversee the creation of a platform for #tokenization of cryptoassets;
  • Tether Power - responsible for the company's #mining operations and energy capabilities. The company's representatives emphasized that bitcoin mining is one of its key areas of focus;
  • Tether Edu - an educational division specializing in #learning resources. This division will strive to make the industry more accessible and provide users with knowledge about digital assets. According to the company's statement, the educational activities will take place both locally and globally.

Tether CEO Paolo Ardoino noted:

"Our DNA embodies the essence of shared prosperity. We revolutionized the traditional financial landscape by launching the world's first and most trusted stablecoin. Now we have decided to launch complex infrastructure solutions, disrupting familiar systems in the pursuit of fairness."

It was recently reported that issuer USDT purchased $627 million worth of bitcoins, significantly increasing the leading cryptocurrency's reserves to 75,354 BTC, which was valued at approximately $4.7 billion at the time of the report's publication.

In addition, Tether announced the creation of an artificial intelligence-focused division and began hiring employees to strengthen its human resources.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
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