Tether aims to bring stablecoins and payments to Bitcoin with investment in Ark Labs
CoinDesk
Tether invested $5.2 million in Ark Labs to develop infrastructure enabling stablecoins and programmable payments on the Bitcoin network.Summary
Tether, the company behind the USDT stablecoin, has invested in Ark Labs as part of a $5.2 million funding round. Ark Labs is developing Arkade, a system designed to facilitate faster transactions and application building directly on the Bitcoin blockchain. This investment aims to address Bitcoin’s current limitations in programmable infrastructure, which hinders its use for financial applications requiring speed and automation. Tether CEO Paolo Ardoino stated that expanding access to stablecoins on the Bitcoin network is a priority, and this funding will support that goal. The move is part of Tether’s broader strategy to diversify beyond stablecoin issuance and enhance the utility of USDT.
(Source：CoinDesk)