The Salt Lake City, Utah-based company’s mission is to improve the lives of the millions.
Tether has been making moves to diversify its product offerings into other areas.
The USDT stablecoin issuer Tether has now made a strategic investment in Neuralink competitor Blackrock Neurotech in an effort to advance brain-computer interface (BCI) technology. Neuralink is Elon Musk’s neural implant company.
Today, April 29, the stablecoin business made a formal announcement that brought attention to the $200 million investment made by Tether Evo, their newly created venture branch.
Strategic Investment
This investment has sent shockwaves across the cryptocurrency industry as a whole, since Tether has been making moves to diversify its product offerings into other areas, including as the data, education, and power industries.
A leading innovator in the fields of neurology, neural engineering, and neural prosthetics will be supported by the aforementioned strategic investment, as stated by the stablecoin behemoth. The stablecoin juggernaut Tether is now an important shareholder in Blackrock Neurotech thanks to its massive investment.
Launched in 2008 by renowned experts in Brain-Computer Interface (BCI) technology, Dr. Florian Solzbacher and Marcus Gerhardt, Blackrock Neurotech has quickly become a world leader in neurological engineering, neural prosthetics, and neuroscience.
The Salt Lake City, Utah-based company’s mission is to improve the lives of the millions of people throughout the globe who suffer from paralysis, neurological illnesses, or compromised physiological functions that limit their movement.
The fact that Tether has invested in Blackrock Neurotech is another evidence of its commitment to diversifying its services, as the company said before. Tether recently rejected growth strategies that would have been much more compatible with this investment.
Tether said earlier this month that it intends to expand its services to include other infrastructure solutions in addition to stablecoins.
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