Tether, the issuer of the USDT stablecoin, has made a groundbreaking move in the healthcare sector with a strategic $200 million investment in Blackrock Neurotech, a leading biotech company specializing in brain-computer interface (BCI) technology.
Through its new venture division, Tether Evo, the stablecoin giant, has become the majority stakeholder in Blackrock Neurotech, signaling a significant step towards advancing medical solutions for individuals affected by paralysis, neurological disorders, and lost function.
Tether’s First Announced Investment After Division
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
Blackrock Neurotech, founded in 2008, has been at the forefront of BCI innovation, developing cutting-edge tools that enable patients to control devices using their thoughts.
The company’s technology has empowered individuals to perform tasks previously thought impossible, such as operating robotic arms, manoeuvring wheelchairs, and even communicating with others through brain signals.
“Tether investments are made outside of the stablecoin reserves using company profits,” Tether CEO Paolo Ardoino said.
Tether’s investment aims to accelerate the commercialization and rollout of Blackrock Neurotech’s medical solutions, which have already demonstrated remarkable success in improving the lives of over 40 individuals. Additionally, the funding will support ongoing research and development efforts, ensuring that Blackrock Neurotech remains at the forefront of BCI technology innovation.
Paolo Ardoino, CEO of Tether, expressed his enthusiasm for the partnership, emphasizing Tether’s commitment to nurturing emerging technologies with transformative capabilities.
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 highlighted the potential of Blackrock Neurotech’s BCI technology to revolutionize 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, co-founder of Blackrock Neurotech, expressed his deep gratitude for Tether’s support. He emphasized the shared long-term vision of both companies to advance healthcare and improve the lives of millions worldwide.
“My life’s dream has been to help and restore function in people who lost it and to advance technologies that revolutionize healthcare and the world around us,” Solzbacher, co-founder of Blackrock Neurotech, said.
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 Leading at The Forefront of Innovation and Adoption
As Tether expands its focus beyond stablecoin offerings with the launch of divisions like Tether Evo, the company is pushing the boundaries of what’s possible.
“Tether Evo stands at the intersection of innovation and human potential, dedicated to propelling humanity into a future where technology and human capabilities merge in unprecedented ways,” Tether said.
Notably, Tether has spent little time establishing a significant presence on its recent launch on TON. With a swift issuance of $60 million worth of USDT, TON now stands as the 11th blockchain to host Tether, marking a pivotal moment in expanding its accessibility and utility for users worldwide.
The collaboration between Tether and TON was unveiled at the Token2049 conference in Dubai, where they introduced USDT and launched Tether Gold (XAUT) on the blockchain. This gold-pegged stablecoin offers users enhanced diversification options within the TON ecosystem.
Tether CEO Paolo Ardoino hailed the partnership as a “great start,” initially issuing $35 million, which swiftly escalated to $60 million within just two days, as confirmed by the Tether Transparency report.
Tether reported a record net profit of $2.9 billion in its latest Q4 2023 attestation report, published earlier this year. Tether also recently launched on the Celo Blockchain, taking advantage of this broad base to promote the adoption of Celo solutions and see more users adopt USDT. With USDT minting on Celo now available, users can use the stablecoin transparently and in a cheap environment.
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