Tether’s strategic investment will greatly assist Blackrock Neurotech in achieving its objectives.
By Bena Ilyas
Edited by Julia Sakovich
Updated
3 mins read
The cryptocurrency world experienced an unexpected development as Tether, responsible for issuing USDT, the leading stablecoin, announced a substantial investment in Blackrock Neurotech, a biotechnology firm. Through its new venture capital division Tether Evo, Tether provided $200 million to Blackrock Neurotech, making Tether the majority shareholder in the biotech company.
Tether’s recent move signifies its ambitions to expand its influence beyond stablecoins, venturing into the rapidly evolving field of brain-computer interface (BCI) technology. This new technology holds immense potential to transform healthcare and enhance human capabilities, and Tether seems to be a part of this remarkable revolution.
Blackrock Neurotech, established in 2008, specializes in brain-computer interfaces. Their innovations enable individuals with paralysis, lost function, or neurological conditions to operate devices using just their thoughts. This groundbreaking tech offers new independence and opportunities.
Tether’s strategic investment will greatly assist Blackrock Neurotech in achieving its objectives. The additional funds will allow the widespread distribution and commercialization of their current medical solutions. Furthermore, it will accelerate the research and development effort for even more sophisticated BCI applications.
Tether CEO Paolo Ardoino said that Tether’s investment choices extend beyond the stablecoin reserves, they utilize company profits. This strategic decision underscores Tether’s faith in BCI technology’s capacity to redefine human potential’s boundaries.
“Blackrock Neurotech is just the beginning of our journey through Tether Evo to venture into projects that redefine the boundaries of what’s possible at the intersection of technological innovation and human potential,” said Ardoino. “Tether has long believed in nurturing emerging technologies that have transformative capabilities.”
The investment in Blackrock Neurotech shows Tether’s goal of diversifying through Tether Evo. This new venture capital arm joins Tether’s other recently launched divisions like Tether Data, Tether Finance, Tether Power, and Tether Education. These initiatives highlight Tether’s aim to become a multifaceted financial technology company. Tether plans to expand beyond its core stablecoin business.
Blackrock Neurotech’s BCI technology has already shown impressive potential. In 2016, a patient called Nathan Copeland employed Blackrock’s technology to control a robotic arm and even experience a fist bump from former President Barack Obama. These advancements offer immense promise for individuals with disabilities and neurological conditions.
“This ambitious, long-term endeavor requires dedicated and visionary partners,” stated Dr. Florian Solzbacher, co-founder of Blackrock Neurotech. “With its commitment to seeking out and nurturing technology, […] we couldn´t dream of a better partner than Tether to bring our shared vision to life.”
This collaboration between Tether and Blackrock Neurotech signifies an essential milestone for BCI technology. The substantial $200 million investment could accelerate breakthroughs in this domain, potentially improving the lives of numerous individuals battling paralysis, neurological conditions, and communication challenges.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.
