Stablecoin firm Tether has invested $200M in neurotech company
Tether – the operator of the Tether (USDT) stotcoin, the world's largest stablecoin by market value – has invested heavily in restructuring its business.
On April 29, Tether announced a $200 million strategic investment in Blackrock Neurotech, which will become a majority shareholder in the neural implant company. The investment was made in Tether Evo, a new division of Tether focused on the intersection of human potential and technology.
Founded in 2008, BlackRock Neurotech is a global pioneer in human brain-computer-interface (BCI) technology, known for its advanced brain-computer interface.
The organization is committed to helping millions of people around the world who suffer from paralysis, loss of function and neurological disorders that prevent them from walking, seeing, hearing, feeling or speaking.
With BlackRock NeuroTech's Brain Enterprise technology, patients have developed robotic arms, moved wheelchairs, sent messages, browsed the Internet, and even driven cars using the power of their imagination.
In the year In 2016, BlackRock Neurotech patient Nathan Copeland made headlines when US President Barack Obama used BlackRock BCI to control his fist attacks.
Tether's $200 million investment aims to support the successful release of commercial and medical solutions for more than 40 individuals. The investment will be used to enhance Blackrock Neurotech's research and development and secure its future position as a major BCI player and long-term focus on human evolution.
According to Tether CEO Paolo Addoino, BlackRock Neurotech through Tether Evo “is the beginning of the company's journey to support projects that push the boundaries of what is possible at the intersection of technological innovation and human potential. He added:
Blackrock Neurotech technology represents a leap forward, technology that not only complements but enhances our human experience, and we at Tether are proud to embark on this journey with them.
Florian Solzbacher, founder of BlackRock NeuroTech, said BlackRock NeuroTech's mission to help restore function in humans is a long-term endeavor and requires committed and visionary partners.
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“We couldn't have dreamed of a better partner than Tether to bring our shared vision to life in our commitment to finding and nurturing technology that helps more people and propels humanity forward,” he added.
The news comes a few days after Tether announced four new business units on April 18 that focus on different business areas, including Tether Data, Tether Finance, Tether Power, and Tether Edu.
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