The issuer of USDT, Tether, has announced plans to expand its horizons beyond the stablecoin market and enter the realm of artificial intelligence (AI). This move shows Tether’s aim to diversify its business activities and utilize its knowledge and assets to delve into opportunities within the AI sector.
Artificial intelligence has become increasingly vital across various industries, providing substantial capabilities in fields like data analysis, automation, predictive modeling, and decision-making processes.
In the last year, the synergy between AI and blockchain has progressed significantly, with numerous companies creating and implementing projects that introduce new use cases.
Some companies integrating AI and blockchain technologies are CertiK, a blockchain security firm using AI to protect blockchain protocols and smart contracts; Vytalyx, a health-tech company providing healthcare professionals with blockchain-based medical intelligence using AI; and WealthBlock, an automated marketing SaaS platform utilizing blockchain for investor referrals and AI for content automation.
Tether Limited Inc. is the company behind Tether, a cryptocurrency stablecoin introduced in 2014. The stablecoin is pegged to various fiat currencies like the US dollar, euro, and gold.
Tether has faced criticism for its lack of transparency regarding its claimed fiat reserves. Despite this scrutiny, Tether has experienced significant growth, becoming the largest cryptocurrency by trading volume and surpassing Bitcoin in 2019.
In March 2024, Tether had more than $100 billion in circulation, raising concerns about its impact on the cryptocurrency markets. Tether Limited, a subsidiary of iFinex Inc., which also owns the Bitfinex exchange, boasts a market cap exceeding $100 billion.
Known for strategic investments in sectors like renewable energy and bitcoin mining, Tether is now expanding into the realm of AI technology.
The company aims to develop cutting-edge AI models through collaborations with partners for product integration and community engagement. They are actively recruiting top talent globally for their AI division, marking a significant advancement for the company.
Paolo Ardoino, Tether’s CEO, expressed enthusiasm about the development, viewing it as a game-changer and emphasizing the importance of their partnership with Northern Data Group.
