Tether – the world’s largest stablecoin issuer – has co-led a $7.5 million funding round for Utexo, a platform developing payment infrastructure that allows direct USDT payments over the Bitcoin network.
The funding round also included participation from funds such as Big Brain Holdings, Portal Ventures, and Franklin Templeton.
According to a joint statement from Utexo and Tether, the project’s goal is to build native stablecoin payment infrastructure on Bitcoin. Utexo’s technology enables USDT transactions to be paid directly on the Bitcoin network, while also supporting the use of this stablecoin on the Lightning Network.
Payments will have a fixed fee announced in advance, with transactions processed through an “atomic settlement” mechanism that completes instantly and privately, leveraging Bitcoin’s security. Payment costs will also be paid directly in USDT.
Tether CEO Paolo Ardoino stated that Bitcoin has always been an important part of the company’s long-term vision for USDT. He believes that enabling direct USDT payments on Bitcoin and the Lightning Network with predictable costs will strengthen Bitcoin’s role as a global payment infrastructure for USD transactions in the real world.
Currently, USDT has a total supply of approximately $184 billion, making it the most popular USD-pegged stablecoin on the market.
Thanks to significant profits, Tether’s investment arm is increasingly actively investing in various sectors, especially companies developing technology to support its stablecoin ecosystem. Recently, Tether also invested in LayerZero Labs – the developer of technology for the multi-chain USDT version USDT0 – and the sleep technology startup Eight Sleep, valued at around $1.5 billion.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Tether Acquires 8.2% Stake in Antalpha, Gaining Exposure to Bitcoin Lending Platform
Tether-affiliated entities invested $25 million in Antalpha, acquiring 8.2% ownership at the IPO price of $12.80 per share. Antalpha, a fintech platform for Bitcoin mining, reported strong financials, but shares fell over 27% post-disclosure.
GateNews36m ago
Tether buys Antalpha’s shares for an 8.2% stake; the chairman has voting and disposal rights
According to the Schedule 13D filing submitted to the U.S. Securities and Exchange Commission (SEC) on April 20, Tether holds 1,950,000 shares of the Bitcoin mining financial platform Antalpha through affiliated entities, representing a 8.2% ownership stake. Tether chairman Giancarlo Devasini has voting and disposition rights over the aforementioned shares.
MarketWhisper4h ago
Tether Backs Abu Dhabi Tokenization Startup Kaio With $8M Investment
Kaio, a tokenization firm in Abu Dhabi, raised $8 million from Tether and other investors to enhance blockchain asset distribution. With a total of $19 million, it manages around $100 million and plans to launch an on-chain fund with Mubadala Capital.
GateNews5h ago
KAIO Raises $8M in Strategic Funding Led by Tether
KAIO, a tokenization firm regulated in Abu Dhabi, secured $8 million in funding led by Tether, bringing total funding to $19 million. The company offers blockchain infrastructure for asset management and aims to expand into new products, managing about $100 million in assets.
GateNews16h ago
Tether Holds 8.2% Stake in Bitcoin Mining Finance Firm Antalpha Following $49.3M IPO
Tether and CEO Giancarlo Devasini own 1.95 million shares (8.2%) in Bitcoin mining finance company Antalpha, which raised $49.3 million in its IPO. Antalpha offers Bitcoin-collateralized lending and has a $1.6 billion loan portfolio.
GateNews16h ago
BIS calls for globally coordinated stablecoin regulation: warns that Tether and Circle account for 85% of those showing “security-like characteristics”
The Bank for International Settlements (BIS) once again emphasized the importance of global stablecoin regulatory coordination, pointing out three major risks that stablecoins face at this stage, including regulatory challenges related to cross-border flows and issues with market concentration. BIS proposed a unified ledger framework and argued that central banks need to lead the development of digital currencies, which would pose challenges to existing stablecoin issuers such as Tether and Circle. Overall, in the future, stablecoins may face a more stringent regulatory framework.
ChainNewsAbmedia21h ago
