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Tether, the issuer of the USDT (USDT-USD) stablecoin is reorganizing into four divisions – Data, Finance, Power, Edu(cation) – to align with its diversification into other digital asset sectors, it said on Thursday.
In reflecting its broadening focus, the Data division will feature the development and strategic investment in technology, including artificial intelligence and peer-to-peer platforms.
The Finance unit will handle everything related to USDT (USDT-USD), the world’s largest stablecoin by market cap. Power will cover sustainable bitcoin (BTC-USD) mining operations, and Edu will be committed to educational activities.
Do note that Tether has already invested in a number of areas beyond USDT (USDT-USD). 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.
On-chain data showed that Tether had added about 8,889 bitcoins (BTC-USD) to its holdings at the end of Q1, as part of its pledge to use up to 15% of net realized operating profits to buy the token.
“Tether’s expansion beyond its well-established USDT stablecoin signifies a paradigm shift in its approach to financial empowerment,” the company said in a statement.
“By focusing on sustainable solutions adaptive to the needs of individuals, communities, cities and countries, responsible Bitcoin mining, Artificial Intelligence infrastructure and decentralised communication platforms, Tether is actively contributing to a future-proof financial and tech ecosystem,” it added.
