Tether, the company behind the popular stablecoin USDT, is undergoing a major overhaul. In an official announcement on April 18, Tether revealed its new framework, which includes the establishment of four new business divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu. The aim of these divisions is to expand Tether’s offerings and provide a range of infrastructure solutions, investments, and services.
Tether Data will focus on strategic investments in technologies such as artificial intelligence and peer-to-peer platforms. Tether Finance will serve as the central hub for Tether’s stablecoin products and financial services, with the goal of democratizing the global financial system. Tether Power will further develop Tether’s mining and energy efforts, while Tether Edu will focus on digital education and promoting blockchain adoption.
Tether CEO Paolo Ardoino emphasized the company’s mission to disrupt traditional systems and provide inclusive infrastructure solutions. Tether, founded in 2014, is one of the largest companies in the cryptocurrency ecosystem and operates USDT, the largest stablecoin by market capitalization. In March 2024, Tether reached a major milestone with a market value of $100 billion.
In addition to USDT, Tether also operates several other stablecoins, including Euro-pegged Tether Token EURT, offshore Chinese Yuan CNH₮, and gold-backed Tether Gold XAUt. The restructuring of Tether is part of its ongoing efforts to expand beyond stablecoins. In recent years, the company has ventured into Bitcoin mining, launched an educational branch, and accumulated a significant amount of Bitcoin.
Tether’s transformation reflects its commitment to innovation and growth in the cryptocurrency industry. As the company continues to evolve, it aims to provide a diverse range of services and contribute to the development of blockchain technology.