Tether has invested $100 million in crypto bank Anchorage Digital, according to a Thursday press release.
The strategic equity investment builds upon an existing partnership where Anchorage serves as the issuer for USA₮, Tether’s compliance-focused stablecoin. Tether’s investment into the federally regulated bank aims to strengthen the custody and settlement layers required for institutional adoption.
Tether CEO Paolo Ardoino described the move as a push to build “global infrastructure for freedom” through secure financial systems. Anchorage CEO Nathan McCauley said the alliance validates their choice to build “regulated foundations” for the market.
This banking push comes as Tether also expands its bitcoin mining product offerings. The company launched Mining OS earlier this week, an open-source bitcoin mining management software.
Tether also continues to diversify its reserves beyond government debt. Bloomberg reported that the stablecoin company holds approximately $24 billion in gold, rivaling the sovereign reserves of South Korea and Greece. These initiatives reflect Tether’s broader strategy centering on banking, energy, and commodities.
Header image by Gage Skidmore via Creative Commons.
