Tether makes strategic investment in Northern Data Group

Quick Take

  • Through the partnership, Tether and Northern Data Group will collaborate on AI, communication and data storage initiatives.

Tether, the firm behind the USDT stablecoin, has made a strategic investment in Northern Data Group, which provides data center and cloud environment services based in Germany. 

Northern Data Group provides not only blockchain but AI computing services. Through the partnership, Tether and Northern Data Group will collaborate on AI, communication and data storage initiatives.

"This investment is significant for Tether as it demonstrates its determination to support emerging technology," Tether wrote in a statement. The investment was for an undisclosed amount. 

Tether's fresh venture

"We are excited about this investment into Northern Data Group as it represents a fresh venture into new technological frontiers," Tether Chief Technology Officer Paolo Ardoino said. "This investment underscores our commitment to responsible growth and innovation while preserving the strength and integrity of Tether tokens’s reserves."

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy