Tether Expands Business to Include New Divisions beyond Stablecoins

Tether Limited Inc, the company behind the world’s largest stablecoin USDT, has announced a restructuring that broadens its operations to several efforts beyond stablecoins. Tether has introduced several new infrastructure solutions that cater to a more inclusive business, launching new divisions.

According to an official publication, Tether has announced the Tether Data, Tether Finance, Tether Power, and Tether Edu divisions. The company said it is focusing on sustainable solutions that can adapt to the changing needs of the general market to contribute to a “future-proof financial and tech ecosystem.”

The New Tether Divisions

Although Tether announced four divisions, Tether Finance is not exactly new, as it is the digital asset services division. Tether Finance is responsible for the company’s financial services, including the USDT stablecoin. According to the announcement, Tether will leverage its Finance division via blockchain technology to build financial infrastructure that supports mainstream cryptocurrency adoption. In addition, Tether plans to launch a digital asset tokenization platform under the Finance division.

The Data division will specialize in emerging technologies, focusing on development and strategic development. Tether Data will push boundaries with peer-to-peer platforms and artificial intelligence (AI), via platforms like P2P application builder Holepunch, launched in 2022. For Tether Power, the plan is to focus on sustainable Bitcoin mining operations to contribute to securing the Bitcoin network. The Power division will further Tether’s efforts in mining and energy.

Finally, Tether will invest in digital skills education and ensure global access through Tether Edu. The division will help to cultivate knowledge, proficiency, and general awareness of digital technologies by supporting educational initiatives. Tether Edu will also assist in the adoption of P2P and blockchain technologies locally and globally.

Using Technology to Distrupt Conventions

According to Tether CEO Paolo Ardoino, Tether has successfully achieved the disruption of the traditional landscape via its stablecoin. It is now focusing on further disruption of conventional systems to prompt fairness.

“With this evolution beyond our traditional stablecoin offerings, we are ready to build and support the invention and implementation of cutting-edge technology that removes the limitations of what’s possible in this world. We’re Tether. We use technology to empower individuals, communities, cities and nations to become self-sustainable, independent, and free,” Ardoino noted.

Tether will soon complete its $500 million investment into Bitcoin mining. The company has already constructed several mining facilities with renewable energy stations in countries with renewable energy resources. These facilities are available in El Salvador, Paraguay, and Uruguay.

The company chose these countries for more than their energy resources. According to CEO Paolo Ardoino, it is important to avoid centralization of mining power, so that no geopolitical jurisdiction wields undue control. The CEO admitted that US states like Texas and Kentucky have been supportive of mining firms, offering energy deals and granting tax rebates. However, it is important to spread mining power to avoid potential risks of centralization.

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