Tether, the prominent issuer of stablecoin USDT, announced on Monday a significant investment of $200 million to acquire a majority stake in Blackrock Neurotech, a pioneering brain-computer interface company. Through its venture capital arm, Tether Evo, the company aims to support the development and commercialization of Blackrock Neurotech’s groundbreaking medical devices.
Blackrock Neurotech specializes in the creation of medical devices driven by brain signals, with a focus on assisting individuals affected by paralysis and neurological disorders. It’s worth noting that the technology firm is distinct from the asset management giant BlackRock.
The infusion of capital from Tether will facilitate the deployment and market entry of these innovative medical devices. Additionally, funds will be allocated towards ongoing research and development initiatives to further enhance the company’s offerings, as highlighted in the press release.
With a market capitalization of $110 billion, Tether stands as a leader in the stablecoin market. In recent times, the company has diversified its interests by establishing four divisions beyond stablecoin issuance.
Paolo Ardoino, CEO of Tether, expressed the company’s commitment to fostering emerging technologies with transformative potential. He emphasized the belief in the revolutionary capabilities of Blackrock Neurotech’s Brain-Computer Interfaces, which can revolutionize communication, rehabilitation, and cognitive enhancement.
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