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Tether Holdings, the operator of the world’s largest stablecoin USDT (USDT-USD), expects to spend $1B on deals throughout the next 12 months, according to a media report dated Tuesday.
In the last two years, Tether has invested some $2B in financial infrastructure, artificial intelligence and biotech, Bloomberg reported, citing Tether CEO Paolo Ardoino in an interview. Such a trend is expected to continue, he added.
The bulk of Tether’s reserves are invested in U.S. Treasury bills and other securities, though Ardoino said the company will allocate a percentage of that for deals.
The news comes after Tether said April 18 that it’s reorganizing into four divisions – Data, Finance, Power, Edu(cation) – to align with its diversification into other digital asset sectors.
Beyond USDT (USDT-USD), Tether has invested in a number of areas within crypto. In May 2023, it had invested resources into an eco-friendly bitcoin (BTC-USD) mining facility in Uruguay, and subsequently invested in a renewable energy project in bitcoin-friendly El Salvador.
“It’s all about investing in technology that helps with disintermediation with traditional finance,” Ardoino said in the interview. “Less reliance on big tech companies like Google, Amazon and Microsoft.”
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