Tether, the entity behind the USDT stablecoin, has made a significant stride into the healthcare domain by injecting a substantial $200 million investment into Blackrock Neurotech. This pioneering biotech firm specializes in cutting-edge brain-computer interface (BCI) technology.
Operating under its recently established venture division, Tether Evo, the stablecoin powerhouse has acquired a majority stake in Blackrock Neurotech. This move signifies a noteworthy advancement towards enhancing medical innovations aimed at addressing challenges faced by individuals dealing with paralysis, neurological disorders, and impaired functionality.
Tether’s Debut Investment Post Division Announcement
Today Tether takes the majority stake in @BlackrockNeuro_ and unveils the ultimate pillar of its long term vision and strategy: Tether Evo🧠🦾
First of all, this investment (same as energy, mining, …) is done outside of stablecoin reserves, with our own company profits (last… https://t.co/aeDWK97mq1
— Paolo Ardoino 🍐 (@paoloardoino) April 29, 2024
Since its establishment in 2008, Blackrock Neurotech has been a pioneering force in the field of Brain-Computer Interface (BCI) innovation. Their relentless pursuit of progress has led to the development of state-of-the-art tools that empower patients to manipulate devices through the power of their thoughts. The company’s groundbreaking technology has enabled individuals to accomplish tasks previously deemed unattainable, such as controlling robotic arms, navigating wheelchairs, and even communicating with others via brain signals.
“Tether investments are made outside of the stablecoin reserves using company profits,” highlighted Paolo Ardoino, the CEO of Tether. This signifies that Tether’s foray into the healthcare sector through its investment in Blackrock Neurotech is a strategic move leveraging the company’s financial strength to foster innovation in transformative technologies.
Tether’s investment is strategically aimed at expediting the commercialization and widespread adoption of Blackrock Neurotech’s revolutionary medical solutions. These solutions have already showcased remarkable success in enhancing the lives of more than 40 individuals. Moreover, the funding will bolster ongoing research and development endeavors, ensuring that Blackrock Neurotech remains at the forefront of BCI technology innovation.
Paolo Ardoino, expressing his enthusiasm for the collaboration, emphasized Tether’s dedication to nurturing emerging technologies with the potential to bring about transformative change. This partnership underscores Tether’s commitment to leveraging its resources to support groundbreaking innovations that have the capacity to revolutionize the healthcare landscape and improve the quality of life for individuals worldwide.
Ardoino said,
“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.”
Ardoino also emphasized the transformative impact that Blackrock Neurotech’s BCI technology could have on communication, rehabilitation, and cognitive enhancement.
“Tether has long believed in nurturing emerging technologies that have transformative capabilities, and the Brain-Computer-Interfaces of Blackrock Neurotech have the potential to open new realms of communication, rehabilitation, and cognitive enhancement.”
Dr. Florian Solzbacher, one of the co-founders of Blackrock Neurotech, conveyed his profound appreciation for Tether’s support in advancing their mission. He underscored the alignment in long-term vision between both companies, emphasizing their shared commitment to advancing healthcare and enhancing the lives of millions across the globe.
Reflecting on his personal aspirations, Dr. Solzbacher expressed, “My life’s dream has always been to contribute to the restoration of function in individuals who have lost it and to drive forward technologies that have the potential to revolutionize healthcare and the world at large.” His sentiments highlight a deep-seated dedication to leveraging innovative solutions to address challenges within the healthcare domain and bring about positive transformation on a global scale.
Solzbacher added,
“This ambitious, long-term endeavour requires dedicated and visionary partners. With its commitment to seeking out and nurturing technology that will help many people and push mankind forward, we couldn’t dream of a better partner than Tether to bring our shared vision to life.”
Tether Pioneering Innovation and Adoption
As Tether extends its reach beyond stablecoin offerings with the advent of divisions like Tether Evo, the company embarks on a journey to redefine the boundaries of possibility.
“Tether Evo stands as a beacon at the crossroads of innovation and human potential, committed to ushering humanity into a future where technology and human capabilities converge in unprecedented ways,” Tether articulated.
Of notable mention is Tether’s rapid establishment of a significant presence upon its recent integration with TON. With the swift issuance of $60 million worth of USDT, TON now proudly stands as the 11th blockchain to host Tether, marking a pivotal milestone in broadening its accessibility and utility for users worldwide.
The collaborative venture between Tether and TON was publicly unveiled at the Token2049 conference in Dubai. During this event, they introduced USDT and inaugurated Tether Gold (XAUT) on the blockchain. This gold-backed stablecoin offers users enhanced diversification opportunities within the TON ecosystem.
Paolo Ardoino, the CEO of Tether, hailed this partnership as a “stellar beginning,” initially issuing $35 million, which swiftly escalated to $60 million within a mere two days, as corroborated by the Tether Transparency report.
In its latest Q4 2023 attestation report, Tether reported a record net profit of $2.9 billion, underscoring its financial robustness and market dominance. Additionally, Tether recently embarked on its integration with the Celo Blockchain, leveraging this expansive platform to foster the adoption of Celo solutions and encourage more users to embrace USDT. With USDT minting now accessible on Celo, users can seamlessly utilize the stablecoin in a transparent and cost-effective environment, further solidifying Tether’s position as a leading force in the cryptocurrency landscape.
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