Tether CEO Paolo Ardoino revealed that the company is preparing to introduce its new class of products on June 17.
Tether Limited, the company that develops USDT, the world's largest stablecoin, and has been expanding into Bitcoin mining since last year, is getting ready to introduce a new class of products next Monday, June 17. of digital assets.
Paolo Ardoino, CEO of the company, confirmed the plans at X, highlighting that the last year has been one of hard work, but that the company is ready to launch new products and maximize the experience it provides to users.
Although Ardoino did not reveal more details in its publication, it is presumed that the new digital asset products that Tether will announce could be related to the plans that Ardoino revealed in mid-May, to build a P2P financial markets terminal based on Holepunch technology. At that time, Ardoino highlighted that Tether could allocate significant resources to this project.
$1.000 billion for new Tether products
According to Ardoino, over the next 12 months, Tether will invest $1.000 billion in various projects that improve its USDT distribution network and allow the company to grow and diversify into new markets.
Tether has been expanding beyond the stablecoin business, investing in major projects focused on energy, education, data centers and tokenization. For example, in September it began testing its Bitcoin mining platform, Moira, and has been building new farms and data centers to boost crypto mining in countries like Uruguay and El Salvador. In addition to this, it launched an educational platform focused on cryptocurrencies and blockchain technology called Tether Edu.
Now, through its investment arm Tether Investments, Ardoino highlighted that the company aims to develop alternative financial infrastructure for emerging markets, artificial intelligence and biotechnology. To date, according to BNN Bloomberg, Tether has allocated nearly $2.000 billion in investments in these market niches.
“It is about investing in technology that helps disintermediate traditional finance. Less dependence on large technology companies like Google, Amazon and Microsoft,” Ardoino assured the Canadian channel.
Tether posted extraordinary profits in the first quarter
In its filings, Tether reported a record profit of $4.520 billion in the first quarter, indicating that a significant portion of this came from its Bitcoin operations. Analysts have highlighted the company's impressive growth in its expansion beyond stablecoins.
Currently, USDT is positioned as the third most capitalized cryptocurrency on the market, with a value of $112.000 billion, according to data from CoinMarketCap. This represents a growth of 40% in the last year.
