"Tether Dives into AI: New Apps, SDK, and Record Profits"

Generated by AI AgentCoin World
Wednesday, Feb 5, 2025 11:32 pm ET1min read
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Tether Expands into AI with New Applications and SDK Platform

Tether, the world's largest stablecoin issuer, is venturing deeper into artificial intelligence with a number of AI applications in development, according to the firm's chief executive. Tether's AI division, Tether Data, is developing AI apps such as AI Translate, AI Voice Assistant, and AI Bitcoin Wallet Assistant, according to a Feb. 4 announcement from CEO Paolo Ardoino.

Tether will soon launch its own AI SDK platform, open-source, built upon Bare (Holepunch's javascript runtime), working on every hardware, from embedded devices to powerful servers. The platform will focus on working locally on any device, full privacy, and self-custodial for both data and money.

Tether's AI ambitions were evident back in 2023 when the firm acquired a stake in European crypto miner Northern Data Group, which specializes in cloud computing and generative AI. In March, Tether further expanded its AI operations with a global recruitment drive for top-tier talent, aiming to push the boundaries of AI technology and set new industry standards for innovation and utility.

On Jan. 31, Tether announced record-breaking profits of $13 billion in 2024 and revealed a larger-than-ever stockpile of US government bonds, worth approximately $113 billion. Meanwhile, its stablecoin (USDT) is the third-largest cryptocurrency by market capitalization, which is at an all-time high of $141 billion, following the issuance of another billion dollars worth on Feb. 5.

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