Tether Scores with Juventus Stake, Blending Blockchain and Sports

Tether, the world's largest stablecoin issuer, has made a strategic investment in Italian football giant Juventus, acquiring a minority stake in the iconic club. The move marks a significant step in the integration of blockchain technology and the sports industry.

Paolo Ardoino, CEO of Tether, expressed his enthusiasm for the partnership, stating, "Aligned with our strategic investment in Juventus, Tether will be a pioneer in merging new technologies, such as digital assets, artificial intelligence, 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."

Founded in 1897, Juventus is one of the oldest and most successful football clubs in the world. With a record 36 Serie A titles, 15 Coppa Italia victories, and 9 Supercoppa Italiana wins, the club has cemented its status as a global football powerhouse. The Italian giants currently feature two American stars, Weston McKennie and Timothy Weah, in their ranks.

The investment in Juventus was facilitated by Tether's investment arm, which draws on assets outside of the stablecoin reserves. This strategic move follows a trend of crypto giants investing in the football industry. In 2023, Coinbase, a leading cryptocurrency exchange, inked a sponsorship deal with Borussia Dortmund, a legendary German football club that reached the Champions League final last year. In 2022, former Juventus star and football legend, Cristiano Ronaldo, released exclusive non-fungible tokens (NFTs) with Binance, another prominent crypto exchange.