The post Here’s a Timeline of Tether’s Latest Investments appeared on BitcoinEthereumNews.com.

The largest stablecoin issuing company, Tether, has recently made a lot of investments in emerging crypto and artificial intelligence firms. These investments and the firm’s advancement beyond stablecoins show that the entity is keen on expanding its operations. Over the past few months, Tether has dipped its foot into other sectors like peer-to-peer communication, Bitcoin mining, renewable energy, and artificial intelligence. Tether’s Latest Investments XREX Group is the latest firm Tether has invested in. Earlier this week, the stablecoin issuer announced that it had strategically injected $18.75 million into the blockchain-enabled financial institution to drive innovation and facilitate cross-border settlements via its flagship stablecoin, USDT, for emerging markets. Tether’s funding will enable XREX to revolutionize financial transactions in emerging markets by offering businesses ease, efficiency, and lower costs. In addition, XREX will collaborate with the Unitas Foundation to launch XAU1, a USD-pegged unitized stablecoin over-reserved with Tether Gold (XAUt). Commenting on the pact, Tether CEO Paolo Ardoino said: “Tether’s strategic investment in XREX Group signifies our unwavering commitment to fostering financial inclusion in the emerging markets. This latest investment aligns with Tether’s long-term vision of building a resilient infrastructure that extends beyond the confines of the crypto market, as demonstrated by our diversified investments in various industry sectors.” Over a week ago, Tether entered a $150 million private placement financing deal with blockchain and high-performance computing firm Bitdeer. The agreement gave Tether a private placement of 18,587,360 Bitdeer’s Class A ordinary shares and a warrant to purchase up to 5,000,000 additional shares at $10 each. The gross proceeds from the issuance generated $100 million, and Tether could provide an extra $50 million if Bitdeer fully exercises the warrant. Investing Profits In AI CryptoPotato reported in April that Tether became a major stakeholder in the Brain-Computer Interface (BCI) technology platform Blackrock…

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Filed under: News - @ June 9, 2024 12:20 pm