Tether, the company behind the USDT stablecoin, has made a significant investment of $200 million in Blackrock Neurotech, a leading biotech firm specializing in brain-computer interface technology. This move marks Tether’s first announced investment after the launch of its new venture division, Tether Evo. By becoming the majority stakeholder in Blackrock Neurotech, Tether aims to advance medical solutions for individuals affected by paralysis and neurological disorders.
Blackrock Neurotech, founded in 2008, has been at the forefront of brain-computer interface innovation. Their cutting-edge tools enable patients to control devices using their thoughts, allowing them to perform tasks that were previously impossible. Tether’s investment will accelerate the commercialization and rollout of Blackrock Neurotech’s medical solutions, which have already shown remarkable success in improving the lives of over 40 individuals. The funding will also support ongoing research and development efforts to ensure continued innovation in brain-computer interface technology.
Tether CEO Paolo Ardoino expressed his excitement about the partnership, highlighting Tether’s commitment to nurturing emerging technologies with transformative capabilities. He also emphasized the potential of Blackrock Neurotech’s technology to revolutionize communication, rehabilitation, and cognitive enhancement.
Dr. Florian Solzbacher, co-founder of Blackrock Neurotech, expressed his gratitude for Tether’s support and emphasized their shared vision to advance healthcare and improve lives worldwide. He mentioned that his life’s dream has always been to restore function in people who have lost it and to revolutionize healthcare through innovative technologies.
Tether’s expansion into divisions like Tether Evo demonstrates their commitment to pushing the boundaries of what’s possible. With the recent launch on the TON blockchain, Tether has established a significant presence and expanded accessibility and utility for users worldwide. The collaboration between Tether and TON was unveiled at the Token2049 conference in Dubai, where they introduced USDT and launched Tether Gold (XAUT) on the blockchain, offering users enhanced diversification options.
Tether CEO Paolo Ardoino hailed the partnership with TON as a great start, with an initial issuance of $35 million that quickly escalated to $60 million within two days. Tether also reported a record net profit of $2.9 billion in its latest Q4 2023 attestation report.
In addition to the TON blockchain, Tether has recently launched on the Celo Blockchain to promote the adoption of Celo solutions and increase the usage of USDT. Users can now transparently and inexpensively use the stablecoin on the Celo network.
Tether continues to lead at the forefront of innovation and adoption, pushing the boundaries of technology and human potential. With its investments in healthcare and partnerships with blockchain platforms, Tether is committed to transforming industries and improving lives globally.
