Tether’s ambition to venture into asset tokenization, a red-hot trend at the intersection of crypto and traditional finance, has been well-documented as the company strives to diversify from its highly-profitable stablecoin business. The company issues the $126 billion dollar stablecoin USDT and the $600 million gold-backed token XAUT, and reported f $7.7 billion in group-wide net profits this year so far, in large part from the yield on its $80 billion stockpile of U.S. Treasuries. It has used the profits to invest in startups, bitcoin mining, energy production and AI.
Source: https://www.coindesk.com/business/2024/11/14/tether-unveils-new-platform-to-simplify-asset-tokenization-for-businesses-nation-states/?utm_medium=referral&utm_source=rss&utm_campaign=headlines