Tether Buys $200M Majority Stake in Brain-Computer Interface Company Blackrock Neurotech

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

Tether, the issuer of stablecoin USDT, said Monday that it invested $200 million to acquire a majority stake in brain-computer interface company Blackrock Neurotech via its venture capital division Tether Evo.

Blackrock Neurotech develops medical devices that are powered by brain signals and aims to help people impacted by paralysis and neurological disorders.El Salvador Targets Bitcoin Millionaires in New Push to Attract Long-Term ResidentsThe investment will fund the roll-out and commercialization of the medical devices and also for research and development purposes, the press release said.

Tether is the company behind USDT, the largest stablecoin with a market cap of $110 billion. Recently, Tether established four divisions to expand beyond stablecoin issuance.“Tether has long believed in nurturing emerging technologies that have transformative capabilities, and the Brain-Computer-Interfaces of Blackrock Neurotech have the potential to open new realms of communication, rehabilitation, and cognitive enhancement,” Paolo Ardoino, CEO of Tether, said in a statement.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CoinDesk /  🏆 291. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tether announces restructuring to go beyond stablecoinsTether stablecoin giant has officially introduced its four new business divisions, including Tether Data, Tether Finance, Tether Power and Tether Edu.
Read more »

Stablecoin firm Tether invests $200M in neurotech companyTether has invested $200 million in the neuroscience research firm Blackrock Neurotech, becoming the majority stakeholder.
Read more »

Stablecoin competition crucial for regulatory engagement — Tether CEOTether CEO Paolo Ardoino says adding new players to the stablecoin landscape is crucial to increasing legitimacy in the eyes of regulators.
Read more »

Tether, Circle Diverge on How to Tackle Global Patchwork of Stablecoin RulesIan Allison is an award-winning senior reporter at CoinDesk. He holds ETH.
Read more »

Jack Smith Reaches the End of His TetherSmith has been sparring heavily with the judge in Donald Trump's classified documents case.
Read more »