Tether, the giant behind the world’s largest stablecoin USDT, announced a $200 million strategic investment in Blackrock Neurotech, a brain-interface company. The investment also marks the launch of Evo, a new business division for the company that will examine investments in initiatives that merge tech and human potential.
Tether Dabbles in Biotech, Acquires $200 Million Majority Stake in Blackrock Neurotech
Tether, the stablecoin behemoth, is expanding its investments and operations into a new field: biotech. The company recently disclosed it acquired a majority stake in Blackrock Neurotech, a company that specializes in producing Brain-Computer-Interfaces (BCIs) to help people experiencing loss of neurological functions.
Tether’s investment of $200 million in Blackrock Neurotech will allow the company to roll out part of its products to the wider market and provide the funds necessary to power Blackrock Neurotech’s research and development processes. The investment marks the launch of Evo, another of Tether’s business divisions, that will support initiatives combining humans and tech to advance humanity’s possibilities.
The solutions pioneered by Utah-based Blackrock Neurotech have already made headlines. In 2016, a paralyzed patient using a robotic arm fist-bumped former President Obama, being able to “feel” this interaction via a neurological interface.
Paolo Ardoino, CEO of Tether, remarked on the relevance of Tether’s investment in Blackrock Neurotech. He stated:
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.
Furthermore, Ardoino assessed that Blackrock Neurotech represented a future “where technology not only complements but enhances our human experience.” Florian Solzbacher, co-founder of Blackrock Neurotech, explained that, due to Tether’s tech focus, the company “couldn’t dream of a better partner than Tether to bring our shared vision to life.”
Before, the company had announced a full reorganization of its Business structure, announcing the launch of four different divisions: Tether Finance, Tether Data, Tether Power, and Tether Edu.
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Source: Bitcoin
