Tether, the world’s largest stablecoin issuer, USDT, has revealed plans to undergo a significant restructuring that will cement the company at the desired market position. Having gained dominance in the stablecoin industry, the Tether team unveiled its restructuring plans to broaden its product offering to other digital assets.
In an April 18 announcement, the Tether team announced that the restructuring plan will consist of four major divisions: Tether Data, Tether Finance, Tether Edu, and Tether Power.
Tether Announces Four Divisions of its Restructuring Plan
Launching the four divisions aims to enable the stablecoin issuer to offer a wide range of products and services in investment solutions. According to the announcement, Tether Finance will oversee the issuance of USDT stablecoin, while Tether Power will oversee the company’s broader investment in Bitcoin mining.
Consequently, Tether Data will guide the company in expanding its investment in technology such as peer-to-peer platforms such as Holepunch, Pear Runtime, and Keet. This division will support Tether to expand its artificial intelligence (AI) investments.
The three divisions will help Tether Edu conduct various educational programs and training. Launching the four divisions demonstrated Tether’s commitment to redefining the global financial model.
Besides offering USDT, the Tether team has remained at the forefront of financial empowerment. The Tether aims to provide sustainable solutions that blend with the community’s diverse needs.
The stablecoin issuer vows to champion responsible crypto mining and support the development of AI and decentralized platforms.
Tether Seeks to Expand its Product Offering
An announcement conveyed by the chief executive of Tether Paolo Ardoino revealed that the stablecoin issuer made significant changes to the conventional financial system. The executive described USDT as the most trusted and reliable stablecoin.
The CEO admitted that Tether plans to launch an inclusive infrastructure solution to revolutionize the traditional financial system. Citing the dynamic nature of the financial sector, the CEO confessed that Tether seeks to promote innovation and the development of cutting-edge technologies.
The executive confirmed that Tether’s ongoing development aims to eliminate hurdles that limit technological advancement. Since 2014, Tether has become the largest company offering the largest stablecoin USDT by market capitalization and trading volumes.
Reviewing Tether’s Past Achievements
In the last month, Tether attained its all-time high market value of $100 billion. Besides gaining popularity as a leading stablecoin issuer, Tether offers other digital assets, including Euro-pegged Tether Token EURT (EURT) and Chinese Yuan (CNH₮).
With the proposed restructuring, Tether has showcased its commitment to expand its stablecoin offering to other digital assets. For the past few years, the stablecoin issuer has been launching various investments to expand its revenue-generating streams and remain profitable.
Last year, Tether launched a Bitcoin mining facility and groundbreaking software to support firm operations. Also driven by the desire to attain Tether’s long-term objective, the stablecoin issuer conducted multiple educational and training programs.
In February, the Tether team launched an education division to equip the community with fundamental skills in blockchain and crypto technologies. In May 2023, the Tether team invested an undisclosed amount in CityPay.io to allow customers to make USDT payments.
The integration of USDT on CityPay.io will allow diverse customers to settle their bills conveniently. The Tether team plans to use the excess profit to acquire a measurable amount of crypto assets to gain strategic advantage. In an earlier report, the Tether team acquired 8888 Bitcoin worth $618 million.
The post Tether Unveils its Restructuring Plan, Going Beyond Stablecoin Offering first appeared on CryptocyNews.com.
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