Stablecoin firm Tether invests $200M in neurotech company

Tether — the operator of the eponymous Tether (USDT) stablecoin, the world’s largest stablecoin by market value — has completed a major investment following restructuring of its business.

On April 29, Tether announced a strategic investment of $200 million into Blackrock Neurotech, becoming the majority stakeholder in the neural implant company. The investment was carried out through Tether Evo, a brand-new division at Tether focused on the intersection of human potential and technology.

Established in 2008, Blackrock Neurotech is a global pioneer of human brain-computer-interface (BCI) technology, known for its advanced brain-computer interfaces.

The firm is committed to helping millions of people around the world afflicted with paralysis, lost function and neurological disorders that prevent them from walking, seeing, hearing, feeling or talking.

Through Blackrock Neurotech’s brain interface technology, patients have operated robotic arms, maneuvered wheelchairs, sent messages, surfed the internet, and even driven a car using the power of their thoughts.

In 2016, Blackrock Neurotech’s patient Nathan Copeland made headlines when he used his Blackrock BCI to control a robotic arm and fist bump U.S. President Barack Obama.

U.S. President Obama, in 2016, meeting Copeland at the 2016 White House Frontiers Conference at the University of Pittsburgh. Source: Tech Briefs

Tether’s $200 million investment aims to fund the commercialization and rollout of medical solutions that have already been successfully applied to more than 40 individuals. The investment will also be used to improve Blackrock Neurotech’s research and development and maintain its position as a major BCI player in the future, with a long-term focus on human evolution.

According to Tether CEO Paolo Ardoino, Blackrock Neurotech is just the beginning of the company’s journey through Tether Evo to support projects that “redefine the boundaries of what’s possible at the intersection of technological innovation and human potential.” He added:

“Blackrock Neurotech represents a leap towards a future where technology not only complements but enhances our human experience, and we at Tether are proud to begin this journey with them.”

Blackrock Neurotech co-founder Florian Solzbacher noted that Blackrock Neurotech’s mission of helping restore functions in people is a long-term endeavor and requires dedicated and visionary partners.

Related: Here’s the 6 biggest crypto VC deals in Q1 2024 and late 2023

“With its commitment to seeking out and nurturing technology that will help many people and push mankind forward, we couldn’t dream of a better partner than Tether to bring our shared vision to life,” he added.

The news comes a few days after Tether on April 18 introduced four new business divisions focused on diverse areas of business, including Tether Data, Tether Finance, Tether Power and Tether Edu.

Magazine: 7 ICO alternatives for blockchain fundraising: Crypto airdrops, IDOs & more


Please enter CoinGecko Free Api Key to get this plugin works.