Tether’s investment of $200 million in Blackrock Neurotech signals its strategic expansion into BCI technology, challenging Elon Musk’s Neuralink.
To advance brain-computer interface (BCI) technology, Tether, the dominant stablecoin behind USDT, recently announced that it is strategically investing in Blackrock Neurotech, a prominent competitor of Neuralink, an implant company founded by Elon Musk.
Today, April 29, the stablecoin company issued an official statement that garnered considerable attention due to the extraordinary $200 million investment made by Tether Evo, a recently established venture division of Tether.
The aforementioned investment has generated considerable interest in the cryptocurrency market at large, as Tether has recently demonstrated its intention to extend its product portfolio into additional industries, such as education, data, and power.
The aforementioned strategic investment, according to the stablecoin titan’s statement, is intended to strengthen one of the world’s foremost innovators in neurobiology, neural engineering, and neural prosthetics technology. As a result of its enormous investment, Tether has become a significant stakeholder in Blackrock Neurotech.
Established in 2008, Blackrock Neurotech has rapidly emerged as a leader in worldwide technological advancements within the fields of neuroscience, neural engineering, and neural prosthetics, owing to the mentorship of Dr. Florian Solzbacher and Marcus Gerhardt, renowned scientists and pioneers in Brain-Computer Interface (BCI) technology.
The firm, headquartered in Salt Lake City, Utah, is dedicated to mitigating the suffering of millions of individuals across the globe who are afflicted with neurological disorders, paralysis, and impaired bodily functions that impede their ability to move.
As previously stated, Tether’s commitment to expanding its product portfolio is further supported by the company’s investment in Blackrock Neurotech. CoinGape Media recently reported that Tether has ruled out expansion plans that are more in line with this investment.
Tether unveiled its intentions to expand its scope of operations beyond stablecoins earlier this month, encompassing an array of infrastructure solutions. Included in these infrastructure solutions were “Education, Finance, Data, and Energy.”
The aforementioned advancements highlight a crucial diversification of activities for the stablecoin issuer, constituting a significant milestone in the worldwide cryptocurrency domain. As of the time of writing, the 24-hour trading volume of Tether USDT coin had increased by 22.62%, totaling $46.84 billion.
