Stablecoin company and USDT issuer Tether is reportedly planning to venture into the artificial intelligence (AI) space.
According to Bloomberg, Tether CEO Paolo Ardoino presents Tether’s vision of launching a platform that allows people to interact with artificial intelligence through their mobile phones.
Tether plans to launch the AI platform in the first quarter of 2025 as the company rakes in more than $10 billion in net profit this year.
Ardoino says At least half of the profits will be used for AI and other investments next year.
“Next year we plan to invest at least half of the profits in investments. Our investment is just beginning.”
Data from CoinMarketCap shows that USDT now has a market cap of about $140 billion, up nearly $50 billion this year. Demand for the US dollar-pegged asset surged as the crypto market rallied and Bitcoin (BTC) broke the six-figure mark.
In one report As Tether published earlier this month, the number of wallets holding USDT increased by 71% in 2024.
The company says that as of the start of Q4 2024, there were 109 million on-chain wallets holding USDT – more than twice as many wallets holding Bitcoin….
