Tether Plans P2P Financial Market Platform
Tether announces a new P2P financial markets terminal using Holepunch technology to decentralize data and remove intermediaries, investing heavily in this innovation.
Stablecoin issuer Tether plans to revolutionize financial market data by removing intermediaries with a new peer-to-peer (P2P) financial markets terminal built on Holepunch technology. CEO Paolo Ardoino stated the company would invest significant resources into this initiative, aiming for a substantial positive impact. However, detailed information about the product is yet to be provided.
Tether's CEO Paolo Ardoino announced on X that the company will invest heavily in this new P2P financial markets terminal. The goal is to replicate USDT's success in financial markets by eliminating monopolistic intermediaries. Ardoino said, “Any exchange could maximize its own data revenues while maintaining direct control. Financial markets would become more resilient, making the world a better place.”
The P2P platform aims to decentralize financial market data infrastructure. While specific product details are not available, Ardoino mentioned that the terminal would use Holepunch technology. Holepunch is designed to create apps without centralized data storage, making deployment easier. Tether is a significant investor in this technology.
This move highlights Tether’s strategy to diversify beyond its USDT stablecoin. The company recently reorganized into four sectors: finance, data, education, and power. Tether Finance manages USDT and other digital assets, while the Power unit focuses on sustainable Bitcoin mining. Tether Data will invest in P2P technology and artificial intelligence, with current investments in Northern Data Group and Holepunch.
Tether's diversification includes investing in emerging technologies. The company acquired a majority stake in brain-computer interface company BlackRock Neurotech through its venture capital division, Tether Evo. Ardoino stated this investment shows the firm’s belief in supporting transformative technologies.
These efforts come as Tether experiences peak financial performance. Over the past year, Tether’s USDT market cap surpassed $110 billion, generating significant profits. USDT makes up about 70% of the stablecoin market, according to DeFillama data.
Despite successes, Tether faces regulatory challenges. Reports suggest that crypto exchange Kraken might delist USDT for European users. Additionally, Ripple CEO Brad Garlinghouse recently claimed that the US government might target Tether.
Tether's new initiative aims to make financial markets more resilient and eliminate monopolistic intermediaries. The company plans to use Holepunch technology, which allows for app creation without centralized data storage, making deployment easier and more efficient. Tether’s investment in this technology aligns with its strategy to diversify and invest in emerging technologies.
The company has reorganized into four sectors: finance, data, education, and power. Tether Finance manages its USDT stablecoin and other digital assets. The Power unit focuses on sustainable Bitcoin mining, while Tether Data will invest in P2P technology and artificial intelligence. Tether Evo, the venture capital division, recently acquired a majority stake in brain-computer interface company BlackRock Neurotech, showing the firm’s commitment to innovation.
