United

New Ventures

Green

Giant

Phoenix

Tether, the issuer of the popular USDT stablecoin,&nbsp;<a style="text-decoration:none" href="https://www.ambito.com/negocios/tether-una-las-empresas-cripto-mas-grandes-del-mundo-compro-el-98-adecoagro-n6056740" rel="noopener noreferrer nofollow">invests $100 million</a> in Adecoagro, a prominent Latin American agricultural company, acquiring a 9.8% stake.
Adecoagro, a key player in Latin America’s agricultural landscape, operates extensively in Argentina, Brazil, and Uruguay. A leading milk producer in Argentina, the company manages over 193,000 hectares of sugarcane in Brazil, producing refined sugar and ethanol.&nbsp;
&nbsp;
Founded in 2002, Adecoagro now processes 550,000 liters of milk daily at its Buenos Aires plant and expanded into sugar, ethanol, and energy sectors in Brazil starting in 2005.&nbsp;
<h2 dir="ltr" id="span-span-tether-s-investment-strategy-span-span">Tether's Investment Strategy</h2>
This investment in Adecoagro is part of Tether’s broader strategy to explore opportunities beyond cryptocurrency. Historically, Tether has invested in various sectors, including green energy, Bitcoin mining, artificial intelligence, and education.&nbsp;
&nbsp;
By venturing into agriculture, Tether aims to mitigate risks associated with its core business of stablecoin issuance and enhance its financial stability through diversified investments.
&nbsp;
In its filing, Tether disclosed that the $100 million investment was funded from its own working capital. The acquisition gives Tether ownership of 10,048,249 shares of Adecoagro, representing nearly 10% of the company’s outstanding common shares.&nbsp;
<h2 dir="ltr" id="span-span-future-plans-and-new-ventures-span-span">Future Plans and New Ventures</h2>
Alongside this agricultural investment, Tether is also planning to&nbsp;<a style="text-decoration:none" href="https://x.com/Tether_to/status/1826207852781830373" rel="noopener noreferrer nofollow">launch a new stablecoin</a> pegged to the United Arab Emirates dirham (AED). This new stablecoin will be developed in partnership with Phoenix Group and Green Acorn Investments and will be backed by reserves from the UAE.&nbsp;
&nbsp;
Tether’s USDT remains the largest stablecoin by market capitalization, valued at over <a href="https://coinmarketcap.com/currencies/tether/" rel="noopener noreferrer nofollow">$118 billion</a> according to CoinMarketCap.&nbsp;

Tether Invests $100M in Adecoagro, Securing 9.8% Stake in Agricultural Giant

Table of Contents

BSCN

Other articles published on Sep 10, 2024

PayPal, Venmo Embrace Ethereum Name Service (ENS) for Crypto Payments

Top Cryptos for Maximum Gains in 2024

Bitcoin Bisa Picu Likuidasi US$24 Juta di Binance, Waspada Turun!

Crypto fraud losses skyrocket to $3.96 billion in 2023, says FBI

Samsung Next Invests in Startale Labs, Partner in Sony’s Soneium Blockchain Development

Chainlink (LINK) Social Dominance Spikes To Its Highest Level Since December

Join our free newsletter for daily crypto updates!