By
Temitope Olatunji
April 26th, 2024
Tether, the leading cryptocurrency firm, is making waves with its strategic foray into the realm of Artificial Intelligence (AI). With a focus on innovation and transparency, Tether aims to reshape the landscape of AI technology, setting new standards for accessibility and efficiency.
The cryptocurrency giant behind the issuance of USDT, the world’s largest stablecoin, Tether, seeks to position itself as a pioneer in the field of Artificial Intelligence (AI) through an ambitious strategic expansion.
According to the company’s statement, Tether aims to enhance the accessibility and technological efficiency of AI, taking a step forward to promote transparency and privacy in AI model development, and countering growing concerns about the monopoly of these technologies.
To achieve its goals, Tether’s new subsidiary, Tether Data, will focus on three key areas: developing open and multimodal models that set new standards; leading seamless integrations of AI solutions into commercial products to address real challenges; and ultimately driving the advancement of the open AI field through community contributions while showcasing their own projects.
Tether Launches Global Recruitment Campaign
Tether, boasting an impressive market capitalization of over $104 billion for its flagship cryptocurrency USDT, is seeking to diversify its investments as it fosters a technology that is experiencing rapid growth.
To that end, the company is launching a global recruitment campaign for top-tier talent, marking a significant milestone for Tether as it ventures into the competitive world of AI, which already features major companies like Microsoft, Google, OpenAI, Meta, among many others, vying to offer the best products and services.
Tether’s CEO, Paolo Ardoino, stated that artificial intelligence is poised to impact our lives, both in the real and digital realms. And it is for this reason that, due to its innovative and cutting-edge approach, the company aims to position itself among the established leaders in the industry.
“Our investment in Northern Data Group, known for resilient and high-performance technologies, aligns perfectly with our vision. Today’s announcement establishes a new division within Tether, redefining AI boundaries and democratizing privacy-preserving open AI technology while setting industry benchmarks for innovation, utility, and transparency,” said Ardoino.
Tether Makes History in the Crypto Market
As recently reported by Coinspeaker, Tether has undoubtedly become one of the most important companies in the crypto industry, achieving an unprecedented milestone by managing the first stablecoin (USDT) to surpass $100 billion in market capitalization. This achievement places the USDT stablecoin on par with corporate giants like the British oil company BP and even surpasses the e-commerce behemoth Shopify.
Just in the current year, USDT’s capitalization has increased by approximately 13.6% from $91.74 billion to $104.23 billion. Positioned as the third largest cryptocurrency after Bitcoin and Ethereum, USDT has become a key asset for traders and investors seeking stability in the volatile crypto market.
Therefore, Tether has more than proven that when it comes to competition, it doesn’t matter how big its rivals are, so perhaps we are witnessing the birth of a new giant in the AI industry.