Introduction
Stablecoin issuer Tether has taken a significant step in expanding its influence beyond the world of cryptocurrency by investing $200 million in biotech innovator Blackrock Neurotech. This investment, conducted through Tether’s venture division, Tether Evo, makes it the majority stakeholder and marks a pivotal move into the burgeoning field of brain-computer interface (BCI) technology.
Tether’s Bold Move into Biotech
Through this substantial investment, Tether is not just supporting Blackrock Neurotech’s ongoing projects but also positioning itself at the forefront of a technology that has the potential to transform lives. The funds will boost Blackrock Neurotech’s capabilities in commercializing its medical tools and accelerating its research and development efforts aimed at enhancing communication, rehabilitation, and cognitive functions for people with neurological disorders.
Record Profits and Strategic Investments
The decision to invest follows Tether’s announcement of a record net profit of $2.9 billion in the fourth quarter of 2023. Paolo Ardoino, CTO of Tether, highlighted that “Blackrock Neurotech is just the beginning of our journey through Tether Evo to venture into projects that redefine the boundaries of what’s possible at the intersection of technological innovation and human potential.”
A Leader in Brain-Computer Interfaces
Founded in 2008, Blackrock Neurotech has been a pioneer in the development of BCI technology that allows patients with paralysis and other neurological conditions to control devices through thought alone. The technology gained widespread attention in 2016 when Nathan Copeland used it to interact with former U.S. President Barack Obama.
The Future of Healthcare Blackrock and Technology
Dr. Florian Solzbacher, co-founder of Blackrock Neurotech, views the partnership with Tether as a crucial step forward in advancing healthcare technologies. Meanwhile, Tether continues to diversify its portfolio, with new divisions such as Tether Data, Tether Finance, Tether Power, and Tether Education aimed at bridging the gap between technology and human potential.
Conclusion
With this strategic investment, Tether is not only diversifying its business model but is also stepping into a role that could potentially influence the future of medical technology and human health. As Tether ventures further into diverse technological fields, its impact on global technology and finance landscapes looks set to grow significantly.
