Tether announced in a press release yesterday that the company is establishing four new departments, each focusing on different areas including “Data, Finance, Power (Bitcoin mining and energy), and Education”.
According to the team, these newly established departments, named Tether Data, Tether Finance, Tether Power, and Tether Edu, will focus on providing a range of services in various aspects such as data management, blockchain-based financial services, sustainable Bitcoin mining, artificial intelligence (AI), and digital education.
Tether aims to go beyond its core business of stablecoin USDT and create open financial products and services that are accessible to everyone, leading to a sustainable financial and technological ecosystem. Paolo Ardoino, CEO of Tether, stated in the press release:
In fact, the planning of these new ventures by Tether is not new. The company has been actively deploying businesses outside of stablecoin for several months. Paolo Ardoino revealed last week that Tether’s $500 million Bitcoin mining project is nearing its final stages, with the investment being used to establish mining facilities and renewable energy plants in Uruguay, Paraguay, and El Salvador. Last month, Tether also officially announced its foray into the field of artificial intelligence, focusing on developing open-source models and setting new industry standards to address the issue of monopolization in this field.
Furthermore, earlier this week, Paolo Ardoino hinted at the imminent launch of Tether’s own tokenization platform. The platform will be fully non-custodial and support multiple chains and assets, enabling the tokenization of all assets ranging from bonds, stocks, or funds to reward points.
