Tether grants $100k to BTCPay Server Foundation

Tether recently announced a $100,000 grant to the BTCPay Server Foundation, solidifying its support of the free and open-source software movement.

The BTCPay Server Foundation is renowned for its open-source payment processor software, utilized and tailored by numerous merchants and businesses globally to facilitate Bitcoin (BTC) and USDT transactions.

According to Tether CEO Paolo Ardoino, the grant reflects the company’s unwavering commitment to fostering the growth of open-source technology.

“Our grant to the BTCPay Server Foundation is a testament of Tether’s commitment to the open-source community and our belief in the transformative power of technology,” Ardoino said.

The BTCPay Server Foundation, known for championing financial privacy and freedom, welcomed Tether’s support. The grant will help bolster BTCPay Server’s capacity for innovation and expansion, aligning with its mission to provide a secure, private, and censorship-resistant platform for payment processing.

Rockstar Dev, a Core Contributor and founding member of BTCPay Server, expressed gratitude for Tether’s recognition of the project’s significance.

“I’m thankful to Tether for recognizing BTCPay Server’s significance as a Bitcoin FOSS project and for its generous grant,” the developer said. “This contribution greatly empowers us to concentrate on our mission: enabling anyone to accept Bitcoin, unhindered by geographic, political, or financial barriers.”

Tether also reached a milestone with its USDT stablecoin surpassing $100 billion in circulation, driven by increased demand for Bitcoin. Despite a slight adjustment and a momentary value exceeding $1, Tether’s reserves climbed to $97 billion in December, mainly in short-term U.S. Treasury bills.