Tether makes strategic investment in Northern Data Group
Quick Take
- Through the partnership, Tether and Northern Data Group will collaborate on AI, communication and data storage initiatives.
Tether, the firm behind the USDT stablecoin, has made a strategic investment in Northern Data Group, which provides data center and cloud environment services based in Germany.
Northern Data Group provides not only blockchain but AI computing services. Through the partnership, Tether and Northern Data Group will collaborate on AI, communication and data storage initiatives.
"This investment is significant for Tether as it demonstrates its determination to support emerging technology," Tether wrote in a statement. The investment was for an undisclosed amount.
Tether's fresh venture
"We are excited about this investment into Northern Data Group as it represents a fresh venture into new technological frontiers," Tether Chief Technology Officer Paolo Ardoino said. "This investment underscores our commitment to responsible growth and innovation while preserving the strength and integrity of Tether tokens’s reserves."
Tether maintains 68% of the total stablecoin supply at 90.62 billion via its USDT token, according to The Block's Data Dashboard.
Tether did not immediately respond to a request for comment from The Block.
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