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Tether CEO Paolo Ardoino Teases AI Platform Targeting Early 2025 Debut
The company, known for its $140 billion U.S. dollar stablecoin USDT, has made significant efforts to expand beyond its stablecoin operations this year.
Updated Dec 20, 2024, 9:37 p.m. Published Dec 20, 2024, 7:07 p.m.
What to know:
- Tether aims to debut an artificial intelligence platform in Q1 2025, CEO Paolo Ardoino said in an X post on Friday.
- The company issues the $140 billion USDT stablecoin, and recently invested in several sectors including AI to expand beyond stablecoin issuance.
Tether, the crypto company behind the $140 billion cryptocrrency USDT, is working on an artificial intelligence (AI) platform and aiming to debut early next year, according an X post by CEO Paolo Ardoino.
"Just got the draft of the site for Tether's AI platform. Coming soon, targeting end Q1 2025," Ardoino posted on Friday.
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Tether is known for issuing USDT, the most popular stablecoin in the market, but the company recently made significant efforts under Ardoino's leadership to expand its business beyond stablecoin issuance.
Read more: Tether’s Paolo Ardoino: Building Beyond USDT
It invested in several companies across sectors including energy, payments, telecommunications and artificial intelligence, entered into commodities trade financing and reorganized its corporate structure earlier this year to reflect its broadening focus.
Last year, Tether acquired a stake in artificial intelligence and cloud computing firm Northern Data, indicating its growing interest in AI.
While details were scarce about the upcoming AI platform, Tether's ambition to release a product in the red-hot industry also underscores the growing intersection of crypto and artificial intelligence.
"Our upcoming AI platform is just the beginning of a long journey that will see very important investments by Tether in this sector," Ardoino told CoinDesk in an email. "Tether's focus as always, will remain, building technology solutions that focus on freedom, independence and resilience.”
UPDATE (Dec. 20, 21:36 UTC): Adds comment from Tether CEO Paolo Ardoino.
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