Paolo Ardoino, the CEO of USDT parent company Tether Holdings Ltd, has revealed the latest details regarding the firm’s Artificial Intelligence (AI) pivot. Taking to the social media platform X, Ardoino said he has received the draft of the site for the Tether AI platform. While he didn’t share additional detail on what the platform looks like, the post has sparked a broad intrigue in the crypto ecosystem.
Tether AI Platform – When Launch?
The stablecoin issuer hopes to join the growing list of firms making a direct pivot into the AI scene. Following the broad success of firms like OpenAI and Anthropic over the past year, there has been a wide appeal to diversify into AI.
Tether first teased its Artificial Intelligence platform as far back as July this year. As reported by Coingape at the time, the firm’s plan hinges on creating a Peer-2-Peer (P2P) AI Agents with multiple capabilities. Later in October, Paolo Ardoino revealed that the AI Agent will focus on privacy to complement the P2P design.
As the company retains its dominance as the biggest stablecoin in the market with USDT in circulation topping $140 billion, it has continued developing its AI product. In November, Tether introduced WDK Toolkit to create self-custody wallets for AI and robots.
It now remain unclear whether the firm seek to harmonize this WDK Toolkit and the AI agents under one platform. However, Ardoino revealed that the firm is targeting the end of Q1 2025 to launch the platform.
Just got the draft of the site for Tether’s AI platform.
Coming soon, targeting end Q1 2025.🪿🤜🤛 (goosebumps)
— Paolo Ardoino 🤖🍐 (@paoloardoino) December 20, 2024
Diversifying With Deep Pocket
The stablecoin issuer has continued to spread its tentacles to different markets and industries. Besides launching Dirham-pegged stablecoin on TON and other chains to deepen its stablecoin dominance, Tether has also invested in non-crypto companies and initiatives.
As reported by Coingape, Tether has ventured into the crude oil business after it faciliated a trade in the Middle East. This deal was worth $45 million and sets the firm as the first in the stablecoin business to facilitate such.
The company is able to do all of these diversification and expansions as it is quite profitable. The stablecoin issuers reported $2.5 billion revenue in Q3, taking its yearly gains to $7.7 million as of October 31. In addition, USDT wallet count has topped 109 million, setting an unusual pace for growth.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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