Ardoino disclosed that Tether Data, the organization’s AI division, is developing numerous AI-powered instruments.
Summary
Tether, the world’s largest stablecoin issuer, is developing AI-powered tools such as an AI Bitcoin Wallet Assistant, AI Voice Assistant, and AI Translate. These tools ensure user privacy and self-custody of data and funds. Tether plans to introduce its own open-source AI SDK platform, compatible with various hardware. The company has recently reported record-breaking profits for 2024 and a burgeoning stockpile of US government bonds. Tether has also invested in Arcanum Capital’s Arcanum Emerging Technologies Fund II and Rumble.
According to CEO Paolo Ardoino, Tether, the world’s largest stablecoin issuer, is currently developing a number of new applications as part of its artificial intelligence (AI) initiatives.
Tether Data, the company’s AI division, is developing a variety of AI-powered tools, such as an AI Bitcoin Wallet Assistant, AI Voice Assistant, and AI Translate, according to Ardoino’s announcement on February 4.
Designed to operate locally on a variety of devices, these applications ensure user privacy and self-custody of both data and funds.
Tether’s AI wallet assistant is capable of transmitting bitcoin through chatbot commands.
Although specifics are still lacking, a demonstration demonstrated the potential functionality of the AI Bitcoin Wallet Assistant.
The chatbot, which was dubbed “Payment Agent” in the demonstration, was requested by the user to provide their Bitcoin wallet address and balance. Subsequently, the user instructed the chatbot to transfer a small sum of BTC to a contact in their address book.
The AI interface executed the entire procedure autonomously
Ardoino announced that Tether will shortly introduce its own AI SDK [software development kit] platform, which will be open-source and constructed upon Bare. This platform will be compatible with a wide range of hardware, including embedded devices, mobile phones, laptops, potent servers, and clusters of servers.
Tether’s AI Translate functions as a fundamental chatbot-powered translation tool, while the AI Voice Assistant facilitates conversational interactions with the AI system through voice.
Tether’s increasing interest in AI was initially apparent in 2023 when the company acquired a stake in Northern Data Group, a European crypto mining firm that specializes in cloud computing and generative AI.
The company announced in March 2024 that it was expanding its AI operations through a global hiring initiative. According to Cointelegraph, the company’s objective was to “defy the limits of AI technology” and establish new industry standards.
Ardoino also alluded to Tether’s AI ambitions in December, indicating that the company was preparing for the launch of an AI platform by the end of Q1 2025.
In the interim, Tether has recently disclosed a record-breaking $13 billion in profits for 2024, in addition to a burgeoning stockpile of $113 billion in US government bonds.
Following the issuance of an additional $1 billion of USDT on February 5, the market capitalization of its stablecoin USDT attained an all-time peak of $141 billion.
First VC Investment by Tether
Tether initiated its venture capital venture by investing $2 million in Arcanum Capital’s Arcanum Emerging Technologies Fund II last year.
The fund is a tokenized investment vehicle that is dedicated to the support of decentralized Web3 initiatives that are designed to advance blockchain-based technologies, such as financial inclusion, privacy, and remittance solutions.
Additionally, Tether recently allocated $775 million to Rumble, a video-sharing platform that is known for its commitment to free expression. Ardoino attributed the decision to Rumble’s dedication to uncensored content.
In the interim, Rumble’s adoption of cryptocurrency surpasses Tether’s investment.
On November 25, the platform announced its intention to incorporate Bitcoin into its balance sheet. The company’s board of directors authorized the use of up to $20 million of its excess cash reserves to purchase Bitcoin.
Also Read: FDIC Documents Show Banks Pressured to Ban Crypto Firms
Wallets