Tether Pumps $200M Into Biotech Firm as ‘Tether Evo’ Takes Off
- Tether has announced a new strategic investment.
- The investment was made through the company’s newly formed division.
- The new division seeks to bridge the gap between humans and technology.
The company said that USDT stablecoin issuer Tether has acquired the majority stake in Blackrock Neurotech through a multimillion-dollar investment.
Founded in 2008 by Dr. Florian Solzbacher and Marcus Gerhardt, Blackrock Neurotech has established itself as a leader in neuroscience, neural engineering, and neural prosthetics. The company is also a leading pioneer in Brain-Computer Interface (BCI) technology.
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Tether Secures Strategic Stake in Blackrock Neurotech
According to an announcement dated April 29, Tether is now the majority stakeholder in Blackrock Neurotech following a $200 million investment into the company through its newly formed venture division, Tether Evo.
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Like its other divisions, such as Tether Edu and Tether Power, Tether Evo aims to expand Tether’s focus beyond stablecoin offerings. The division “stands at the intersection of innovation and human potential,” Tether said.
With the investment, Blackrock Neurotech is keen on commercializing and rolling out its innovative medical solutions that have already been “successfully applied to more than 40 individuals.”
“The investment will also be used to further boost Blackrock Neurotech’s RD efforts to ensure that they remain the leading BCI company now and in the future, with a long term focus on human evolution and enhancement of our species’ potential through a safe bridge between the human brain and artificial intelligence computing,” the statement read.Tether CEO Paolo Ardoino lauded the move, noting that it was the beginning of the company’s journey through Tether Evo to venture into projects that redefine the boundaries of human and tech intersection. Ardoino clarified that the investment was made outside stablecoin reserves with “own company profits.”
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Read about Tether’s recent company restructuring:
Tether Announces Company Restructuring for Broader Crypto Play
Stay updated on Tether’s recent SOC 2 Type 1 audit:
Tether Reaffirms Security Compliance with SOC 2 Type 1 Audit
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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