Tether, the creator of stablecoin USDT, unveiled its expansion into four new business sectors, marking a strategic diversification amid heightened regulatory scrutiny.
The expansion launches four initiatives, divided into data, finance, power, and education sectors, to broaden the company’s scope from its stablecoin origins to a wider range of services.
Tether Data plans to invest in artificial intelligence and peer-to-peer platforms, collaborating with entities like Holepunch and Northern Data Group.
Tether Finance aims to broaden the adoption of digital assets through a new platform, in addition to managing its stablecoin offerings.
Tether Power will dedicate efforts to sustainable Bitcoin mining, and Tether Edu is set to enhance digital education, with a focus on blockchain technology.
Tether’s announcement comes at a time when the regulatory environment for stablecoins is becoming increasingly complex.
Earlier this week, U.S. lawmakers introduced a bill that imposes requirements on stablecoin issuers, including the mandate for dollar-backed tokens and full reserve asset backing.
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- Source: https://forkast.news/tether-expands-into-new-sectors-amid-regulatory-watch/
