Tether has made its first foray into the world of venture capital by investing $2 million in Arcanum Capital’s fund, which focuses on developing blockchain-based Web3 projects.
According to a recent press release, major stablecoin issuer Tether (USDT) has invested $2 million in the venture capital space through Arcanum Capital’s Arcanum Emerging Technologies Fund II. The fund is part of DigitalArray and focuses its efforts on the development of decentralized technologies.
Arcanum Capital plans to use Tether’s investment to develop Web3-centric projects aimed at combining AI and blockchain technology, building on the Bitcoin (BTC) ecosystem, and innovating in crypto payments, among other things create.
On the other hand, part of the Arcanum fund will be used to improve the use of USDT for payments, as well as to accelerate work on projects using Holepunch technology. Holepunch is a peer-to-peer app building platform powered by Bitfinex, Tether and Hypercore.
This is Tether’s first foray into the world of venture capital and signals a significant shift in how the blockchain space is driving venture capital growth.
Tether CEO Paolo Ardoino expressed optimism about working with Arcanum Capital. He believes the partnership between the two companies will result in innovative tools that could empower people in times of uncertainty.
“In a world increasingly characterized by geopolitical tensions and macroeconomic uncertainty, the need for resilient technology to protect our freedoms has never been more important,” Ardoino said in a…
