Tether Expands into Agriculture with $100 Million Investment in Adecoagro

• Tether invests $100 million to acquire 9.8% stake in Adecoagro, its first investment in agriculture sector.
• Tether used its own working capital funds for the investment.
• Adecoagro is a major milk producer in Argentina and entered sugar, ethanol, and energy businesses in Brazil.
• Tether's USDT is the largest stablecoin with a market cap of over $118 billion.
• Competition in the stablecoin market is increasing with new players like PayPal and Ripple Labs.
• Stablecoin market capitalization hit a record $168 billion on Aug. 26, 2022.

Summary :
Tether, the largest stablecoin issuer, has invested $100 million to acquire a 9.8% stake in Adecoagro, a Latin American agricultural giant. This marks Tether's first foray into the agriculture and food sector, following previous investments in emerging technologies and digital education initiatives. The investment was made using Tether's own working capital, and the company now owns over 10 million shares of Adecoagro. Tether's USDT stablecoin faces increasing competition in the market, with new players like PayPal's stablecoin surpassing $1 billion in market capitalization. Ripple Labs has also announced tests for its own stablecoin. The stablecoin market, excluding algorithmic ones, reached a record $168 billion in market capitalization in August 2021.

Sources :

- CoinTelegraph