Tether Diversifies with $100 Million Investment in Latin American Agricultural Giant

1. Tether, the issuer of the world's largest stablecoin, has invested $100 million in Latin American agricultural giant Adecoagro.
2. Tether now owns a 9.8% stake in Adecoagro, making it the company's third-largest shareholder.
3. Adecoagro is Argentina's largest producer of milk and rice, with operations in Brazil and Uruguay.
4. Tether views land as a crucial asset class and aims to diversify its investments beyond Bitcoin and gold.
5. Tether recently announced plans to introduce a new stablecoin pegged to the United Arab Emirates dirham.
6. Competition in the stablecoin market is increasing, with new players like PayPal and Ripple Labs entering the space.

Summary :
Tether, the issuer of the world's largest stablecoin, has invested $100 million to acquire a 9.8% stake in Latin American agricultural giant Adecoagro. This marks Tether's first investment in the agriculture and food sector. Previously, Tether had made strategic investments in emerging technologies, Bitcoin mining operations, and digital education initiatives. Tether used its own working capital funds for the investment. Adecoagro is a major milk producer in Argentina and also operates in the sugar, ethanol, and energy businesses in Brazil. Tether's USDT stablecoin faces increasing competition in the market, with new players like PayPal's stablecoin and Ripple Labs' stablecoin entering the scene. The market capitalization for stablecoins, excluding algorithmic ones, reached a record $168 billion on August 26.

Sources :

- TheBlock
- CoinTelegraph


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