Tether, the entity behind the USDT stablecoin, has announced a $200 million strategic investment to acquire a majority stake in the brain-computer interface company Blackrock Neurotech.
The investment was made via Tether’s venture capital division, Tether Evo, which aims to bridge the gap between humans and technology.
Tether announced the news on the 29th of April, stating that it was now the majority stakeholder in Blackrock Neurotech, following a $200 million investment into the company, made through its venture division, Tether Evo. According to Tether, Tether Evo, like its other divisions, aims to expand the company’s focus beyond stablecoins. According to the company, its new division stands at the intersection of innovation and human potential. With the investment, Blackrock Neurotech aims to commercialize its innovative medical solutions, which, according to the company, have already been applied to over 40 individuals.
“The investment will also be used to further boost Blackrock Neurotech’s R&D efforts to ensure that they remain the leading BCI company now and in the future, with a long-term focus on human evolution and enhancement of our species’ potential through a safe bridge between the human brain and artificial intelligence computing.”
Tether CEO Paolo Ardoino stated that the investment was the beginning of the company’s journey through Tether Evo to venture into projects that help redefine the boundaries of human and technological interactions. The CEO also clarified that the investment was made with the company profits and outside stablecoin reserves.
Blackrock Neurotech develops medical devices that are powered by brain signals and help those who have been impacted by neurological disorders and paralysis. While the names may be similar, Blackrock Neurotech is not associated with the world’s largest asset manager, BlackRock. According to the press release, Tether’s investment will help fund the roll-out and commercialization of Blackrock Neurotech’s medical devices, along with research and development.
Tether is the company behind USDT, the world’s largest stablecoin, with a market cap of over $110 billion. Tether has only recently established four new divisions to help take the company’s focus beyond stablecoins and stablecoin issuance. Tether CEO Ardoino stated,
“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.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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