Tether, the company behind the leader of stablecoins, has made its first investment of 100 million dollars in the agricultural and food sector. Specifically, Tether has acquired a 9.8% stake in the Latin American giant Adecoagro.
Tether: the leader of stablecoins and the first investment in the agricultural company
Tether, the crypto company behind the leader of stablecoins, has made its first investment in the agricultural and food sector.
Specifically, Tether has invested 100 million dollars in the Latin American agricultural giant Adecoagro. Now Tether owns 10,048,249 AGRO shares, which is a 9.8% stake in the company.
This is Tether’s first investment in a company in this sector. Until now, in fact, the company behind USDT had invested in emerging technologies, such as artificial intelligence and peer-to-peer platforms, or Bitcoin mining, as well as digital education initiatives.
Not only that, recently, Tether has invested as much as 3 million dollars in the Kem app, with the goal of promoting financial inclusion in the Middle East.
Adecoagro was founded in 2002 and is a major milk producer in Argentina, with a processing capacity of 550 thousand liters per day at the Buenos Aires plant. In 2005 the company entered the sugar, ethanol, and energy sector in Brazil.
Tether: the investment in agriculture and the current market of stablecoins in motion
While Tether continues to expand its areas of interest with its investments, the stablecoin market seems to be in motion.
At the time of writing, Tether (USDT) has a total market cap of 118 billion dollars, against the 35 billion dollars of USD Coin (USDC), and the 5 billion dollars of DAI.
Among the latest news from Tether on stablecoins, it was recently announced that USDT will also be launched on the Aptos blockchain.
Not only that, Tether has also announced that it will launch another stablecoin, pegged to the Dirham of the United Arab Emirates (UAE). The idea, together with Phoenix Group and Green Acorn Investments, is to boost trade and remittances in the area.
But in the stablecoin market, it seems that some news is also coming from well-known crypto companies, such as the launch of Ripple USD (RLUSD).
The new stablecoin coming from Ripple: RLUSD
The crypto community is also waiting to learn about the new stablecoin from Ripple, RLUSD, which should be launched to the market very soon.
In fact, in the month of August, Ripple had announced to the community that RLUSD was conducting its beta tests to confirm its use cases and its security standard.
At the end of the month, the company then confirmed the success of these tests and, just last week, the CEO of Ripple, Brad Garlinghouse said that it is a matter of weeks before RLUSD will be launched.
Ripple USD (RLUSD) will be launched on XRP Ledger and Ethereum.
