Tech
Tether decentralizes financial markets with new P2P terminal
Tether, the issuer of USDT stable currencyplans to develop a terminal for peer-to-peer financial markets using Holepunch technology.
CEO Paolo Ardoino announced on X that Tether will invest significant resources in this initiative.
Tether plans a terminal for P2P financial markets
According to Ardoino, the company would aim to replicate The success of USDT in the financial markets eliminating monopolistic intermediaries.
“Any stock exchange in the world would maximize revenue from its data while maintaining direct control of its use. Financial markets would be much more resilient as a result of this change and the world would likely be a better place,” Ardoino said. added.
While specific product details are not available, Ardoino indicated that the P2P platform would decentralize the financial market’s data infrastructure. Furthermore, he stated that the terminal will be built using Holepunch technology.
Holepunch is a platform designed to build apps without requiring centralized data storage, allowing for easy deployment. Tether is a significant investor in this technology.
This announcement proves it Tether’s strategy to diversify beyond its flagship USDT stablecoin. The company recently renovated its operations in four distinct sectors: finance, data, education and energy.
Tether Finance oversees its multibillion-dollar USDT and other digital assets. Meanwhile, the company’s Power unit focuses on sustainable Bitcoin mining activities.
To know more: How to buy and store the different types of Tether
On the other hand, Tether Data will invest in P2P technology and artificial intelligence, with existing investments in Northern Data Group and Holepunch.
Surprisingly, Tether acquired the majority stake in brain-computer interface company BlackRock Neurotech through its venture capital arm, Tether Evo. Ardoino said this investment demonstrates that the company believes in promoting emerging technologies with transformative capabilities.
Meanwhile, these diversification efforts come during the peak of Tether’s financial performance. Over the past year, the company’s USDT market capitalization has exceeded $110 billion and generated substantial quarterly profits. Furthermore, according to data from DeFillama, USDT represents approximately 70% of the stablecoin market.
To know more: What is a stablecoin? A beginner’s guide
Tether tokens in circulation. Source: Bind
However, Tether faces growing regulatory challenges. Reports have emerged that cryptocurrency exchange Kraken may delist the stablecoin for its European users. Ripple CEO Brad Garlinghouse also recently stated that The US government may target the stablecoin’s issuer.
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