Tether Invests $2 Million in Arcanum Capital Fund II
Date: 2024-12-27 Author: Oliver Abernathy Categories: BUSINESS
Tether, one of the largest stablecoin issuers, has announced its first venture capital investment through Arcanum Emerging Technologies Fund II. This fund, managed by the DigitalArray platform, is focused on creating decentralized technologies and innovations.
The funding from Tether will be used to support projects combining AI and blockchain technologies, develop the Bitcoin ecosystem, and improve solutions in the field of cryptocurrency payments. In addition, part of the funds will be used to improve the use of USDT in payment systems and promote projects using Holepunch technology. Holepunch is a platform for creating peer-to-peer applications supported by Bitfinex, Tether, and Hypercore.
Tether CEO Paolo Ardoino expressed hope that the collaboration with Arcanum Capital will lead to the creation of innovative tools capable of protecting people's freedoms in the context of global instability. According to him, technologies that ensure resilience become especially important during geopolitical and macroeconomic crises.
For his part, Arcanum Capital Managing Partner James McDowell emphasized that Tether's investment confirms the trust in the fund and its mission. He noted that Tether's contribution is an important step towards creating transformative technologies for the blockchain industry.
Earlier this month, Tether also revealed the areas in which it invests: Bitcoin mining, traditional finance (TradFi), and commodity trading. Although Arcanum Capital is the first venture fund to receive funding from Tether, it is not yet known whether the company plans to expand such investments in the future.
