Tether, the leading stablecoin issuer, has unveiled its ambitious foray into artificial intelligence (AI) in a recent blog post.
Its goal is to blaze a trail in the development of open-source, multimodal AI models. This essentially means AI models that can process various types of data (text, images and audio) in an accessible manner.
Furthermore, Tether plans to form tie-ups with other entities to integrate AI solutions into practical products. By doing so, it hopes to demonstrate the practical applications of AI.
Additionally, the company is actively involving the wider community in its AI endeavors. It is encouraging contributions from individuals and organizations
Last September, Tether made an investment in Frankfurt-based Northern Data Group to broaden its technological portfolio beyond fintech and work on AI initiatives. Prior to that, the company also made investments in Bitcoin mining, energy production and other industries.
Alex DovbnyaIn his statement, Tether CEO Paolo Ardoino stressed the transformative impact of AI across numerous domains. He also mentioned the recent investment in Northern Data Group, which aligns with the company's broader vision. Tether's new division will be able to set "industry standards" for innovation, according to the Tether boss.
The total market cap of Tether's USDT cryptocurrency has already surpassed $103 billion.
During Q4, Tether recorded a whopping $2.85 billion in net profits, according to auditing firm BDO.
Arman Shirinyan
Dan Burgin
Vladislav Sopov