19 Apr

In the face of increased regulatory scrutiny, Tether, the company behind the stablecoin USDT, said that it had diversified into four new business areas.

In order to extend the company's reach beyond its stablecoin roots and provide a broader range of services, the expansion introduces four initiatives, which are broken down into the data, finance, power, and education sectors.

Tether Data intends to work with organizations like Holepunch and Northern Data Group, investing in peer-to-peer platforms and artificial intelligence.

Tether Finance manages its stablecoin products and also hopes to expand the use of digital assets by creating a new platform.

Tether Power will focus on environmentally friendly Bitcoin mining, while Tether Edu will improve online learning with an emphasis on blockchain technology.

The announcement from Tether coincides with the growing complexity of the stablecoin regulatory landscape.

A bill imposing limitations on stablecoin issuers, such as the demand for dollar-backed tokens and complete reserve asset backing, was introduced earlier this week by U.S. senators.

April 2024, Cryptoniteuae

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