2024

April

Tether announced a reorganization to expand into other areas besides stablecoins. 
Tether has announced reorganizing its structure into four divisions and a new vision to expand beyond the stablecoin sector. According to <a href="https://tether.io/news/tether-advances-beyond-stablecoins-introduces-new-framework-embracing-core-divisions-to-foster-resilient-future-ready-financial-systems/" target="_blank" rel="">a press release</a>, the issuer of <a href="https://crypto.news/price/tether/" target="_blank" rel="">USDT</a> stablecoin intends to expand its influence in the <a href="https://crypto.news/tag/Web3/" target="_blank" rel="">web3</a> industry significantly. 
According to available information, four new divisions will operate within the updated structure of the company. The divisions include: 
<ul> 
 <li>Tether Data: department of strategic investments in technology;</li> 
 <li>Tether Finance: digital asset service department;</li> 
 <li>Tether Power: the department responsible for the mining sector and the company’s energy capacity;</li> 
 <li>Tether Edu: division focused on educational products.</li> 
</ul> 
<blockquote class="wp-block-quote"> 
 “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.” <cite>Paolo Ardoino, CEO of Tether</cite>
</blockquote> 
In a separate post, the company’s CEO noted that USDT’s capitalization exceeded $109 billion over its 10 years of existence. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 https://twitter.com/paoloardoino/status/1780926548901584900 
 </div>
</figure> 
Ardoino says <a href="https://crypto.news/tag/Tether/" target="_blank" rel="">Tether</a> is one of the largest holders of U.S. Treasury bills. The CEO also announced a website called tether.io dedicated to the firm’s new business ventures. 
Tether also previously <a href="https://crypto.news/tether-ai-division-hiring-launch/" target="_blank" rel="">announced</a> a strategic expansion into the artificial intelligence industry. The company also <a href="https://crypto.news/tether-announces-usdt-migration-tool-in-a-bid-to-safeguard-against-blockchain-network-failures/" target="_blank" rel="">revealed</a> an asset recovery tool to allow USDT to be transferred between blockchains in case one of the supported networks fails. 
 You might also like: <a href="https://crypto.news/tether-mints-billion-usdt-tron/" rel=""> Tether again mints 1b USDT on Tron network </a>

Tether to restructure, expand beyond stablecoin sector

crypto.news

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