Tether launches AI division, conducts hiring search

Tether, the group behind the USDT stablecoin, has announced the formation of a dedicated AI division.

Tether’s expansion into the field of AI aims to emphasize the development of open-source AI models and foster collaborations to integrate these advancements into practical solutions.

“The unit will focus on the development of open-source AI models and collaborate with other firms to integrate them into products that could address real-world challenges,” the company disclosed in a statement on Tuesday.

As part of the launch, Tether is embarking on a recruitment campaign to staff the unit, advertising positions for an AI research and development head, along with an AI engineer on its official website. Tether is universally recognized for its creation of the USDT stablecoin, a digital currency anchored to the U.S. dollar, with a market capitalization of $105 billion.

“This announcement redefines AI boundaries and democratizes privacy-preserving open AI technology,” Tether CEO Paulo Ardoino said.

The move towards AI is part of a broader effort that began last year with Tether’s investment in Northern Data. The Frankfurt Stock Exchange-listed entity transitioned from crypto mining to providing computational resources for AI-driven data analysis.