Tether Scores with Juventus Investment, Eyeing Sports-Digital Asset Synergy
1min read Tether, the issuer of the popular stablecoin USDT, has announced a strategic investment in Italian football club Juventus. The investment, made through Tether's investment arm, is a minority stake in one of the world's most successful and iconic football clubs.
Tether's CEO, Paolo Ardoino, stated that the investment marks a significant milestone for the firm, positioning it uniquely to integrate its futuristic portfolio in the realms of the sports industry. The stablecoin issuer is looking to deliver a sports-digital asset synergy at a new level with its acquisition of a minority ownership stake in Juventus.
While blockchain technology has become an integral part of the professional sports industry, Tether is looking to leverage its digital assets, payments, and newly acquired AI and biotech expertise to drive change globally. The firm is also assembling a top-tier advisory team for this initiative.
Tether's investment in Juventus comes amid JP Morgan's statement that the USDT issuer might need to sell its Bitcoin holdings to comply with US stablecoin regulations. However, Tether has not commented on this matter.
Tether's official sole kit sponsorship of FC Lugano, a football club that competes in the Swiss Super League, further underscores its dedication to promoting blockchain technology and stablecoin adoption in mainstream sectors such as the sports industry.
Ardoino commented on the acquisition, saying, "Aligned with our strategic investment in Juventus, Tether will be a pioneer in merging new technologies, such as digital assets, AI, and biotech, with the well-established sports industry to drive change globally. We will explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape."
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