Tether, the issuer of the world's largest stablecoin, announced a significant investment in Blackrock Neurotech, a company specializing in brain-computer interface technology. The total investment of $200 million was made through the company's newly established venture capital division, Tether Evo.
Brain-computer interface technology is gaining popularity, largely thanks to the efforts of Elon Musk's Neuralink company. Last month, Neuralink livestreamed an update showing a quadriplegic man playing video games using only his mind, as a testament to the potential of this technology.
In the statement made on Tether's website today, Blackrock's valuation in the deal was not disclosed.
The company, known for its USDT stablecoin designed to maintain its value of $1, has entered the startup investment scene. The company has accumulated excess gains from a significant amount of Treasuries and similar instruments that back its USDT stablecoin. USDT circulation has now exceeded $110 billion.
Tether CEO Paolo Ardoino said the following on the subject:
“Blackrock Neurotech is just the beginning of our journey through Tether Evo to embark on projects that redefine the boundaries of what is possible at the intersection of technological innovation and human potential. Our company has long believed in supporting emerging technologies with transformative capacity, and Blackrock Neurotech's Brain-Computer-Interfaces have the potential to open new areas of communication, rehabilitation and cognitive development.
“Blackrock Neurotech represents a leap forward into a future where technology not only complements but enhances our human experience, and at Tether we are proud to begin this journey with them.”
*This is not investment advice.
