Stablecoin issuing company Tether has released a new framework revealing its expansion into other areas in the blockchain space as it shifts its approach to financial empowerment. Henceforth, the firm will offer a range of infrastructure solutions, advancing beyond its USDT offering.
According to an official release, Tether is venturing into four new business divisions: data, finance, power, and education.
Tether Advances Beyond Stablecoins
In line with its new framework, Tether has launched different initiatives: Tether Edu, Tether Power, and Tether Data.
Tether Data will focus on the development and strategic investments in emerging technologies like artificial intelligence (AI) and peer-to-peer platforms. The firm announced last month that it was intensifying its AI focus by working with relevant talent. Tether already made investments in Bitcoin miner and data cloud provider Northern Data Group in 2023 during its purchase of Nvidia graphic processing units worth $427 million for generative AI cloud computing.
The finance division would lead Tether's traditional stablecoin products and financial services. Tether Finance will leverage blockchains to create a financial infrastructure that would facilitate the launch of a digital asset tokenization platform.
On the other hand, Tether Power will spearhead the company's sustainable Bitcoin mining operations. CryptoPotato reported in November that Tether intends to inject $500 million into its Bitcoin mining operations as part of its expansion plans.
“Thriving together is in our DNA. We disrupted the traditional financial landscape with the world's first and most trusted stablecoin. Now, we're daring to kickstart inclusive infrastructure solutions, dismantling traditional systems for fairness,” said Tether CEO Paolo Ardoino.
Driving Digital Skills Education
Furthermore, Tether Edu will drive digital skills education by cultivating knowledge, awareness, and technological proficiency. Tether has already kicked off this initiative with partnerships like the Swiss city Lugano's Plan B, which allows legal payments in Bitcoin and USDT.
“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. Be unstoppable, together,” Ardoino added.
Meanwhile, USDT now has a market capitalization of more than $109 billion, according to data from CoinMarketCap.
