
Tether Pivots to AI via Strategic Investment into Northern Data Group
Following the strategic investment, Northern Data Group is set to become the biggest independent artificial intelligence firm in the European market.
$1.00
1H
0.00%$0.0000
24H
-0.04%$0.0004
7D
-0.10%$0.0010
30D
-0.01%$0.0001
Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner. Tether works to disrupt the conventional financial system via a more modern approach to money. It has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies (a familiar, stable accounting unit), Tether has democratized cross-border transactions across the blockchain.
Tether’s USDT stablecoin belongs to a new breed of cryptocurrencies that were developed in order to maintain stable value, something that is fundamentally lacking from traditional cryptocurrencies. Pegged against the US dollar at a 1:1 ratio, Tether builds the necessary bridge between fiat currencies and cryptocurrencies while ensuring stability, transparency, and minimal transaction charges to users.
Tether tokens exist as digital tokens built on Bitcoin (Omni and Liquid Protocol), Ethereum, EOS, Tron, Algorand, SLP, and OMGblockchains. These transport protocols consist of open source software that interfaces with blockchains, allowing for the issuance and redemption of USDT tokens. Being 100% backed by Tether’s reserves, Tether tokens are redeemable and exchangeable pursuant to Tether Limited’s terms of service.
Following the strategic investment, Northern Data Group is set to become the biggest independent artificial intelligence firm in the European market.
Binance’s decision to use emerging market currencies as a way to boost crypto trading on its platform could prove to be a worthy gamble.
While the exact start date of Tether’s partnership with the bank remains undisclosed, the crypto-focused company has historically been discreet about its banking relationships.
Along with Bitcoin Omni Layer, Tether has also decided to discontinue the stablecoin versions of Bitcoin Cash and Kusama.
Coinbase noted that Tether’s USDT doesn’t meet their listing standards for Canada and thus they decided to suspend the stablecoin.