Tether, the issuer of stablecoin USDT, said Monday that it invested $200 million to acquire a majority stake in brain-computer interface company Blackrock Neurotech via its venture capital division Tether Evo.
Blackrock Neurotech develops medical devices that are powered by brain signals and aims to help people impacted by paralysis and neurological disorders.El Salvador Targets Bitcoin Millionaires in New Push to Attract Long-Term ResidentsThe investment will fund the roll-out and commercialization of the medical devices and also for research and development purposes, the press release said.
Tether is the company behind USDT, the largest stablecoin with a market cap of $110 billion. Recently, Tether established four divisions to expand beyond stablecoin issuance.“Tether has long believed in nurturing emerging technologies that have transformative capabilities, and the Brain-Computer-Interfaces of Blackrock Neurotech have the potential to open new realms of communication, rehabilitation, and cognitive enhancement,” Paolo Ardoino, CEO of Tether, said in a statement.
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Stablecoin firm Tether invests $200M in neurotech companyTether has invested $200 million in the neuroscience research firm Blackrock Neurotech, becoming the majority stakeholder.
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