In a surprising foray into the healthcare industry, Tether, the issuer of the USDT stablecoin, has recently marked its territory with a significant $200 million investment in Blackrock Neurotech. Known for its pioneering brain-computer interface (BCI) technology, Blackrock Neurotech has been instrumental in advancing medical solutions that cater to individuals suffering from paralysis and other neurological disorders.
Through its venture division, Tether Evo, the cryptocurrency giant has acquired a majority stake in the biotech firm. This move isn’t just about expanding portfolios—it’s a bold stride towards enhancing life-changing medical technologies.
Established in 2008, Blackrock Neurotech has led the way in BCI by creating devices that allow patients to control external devices through brain signals alone. Their innovations have enabled users to maneuver wheelchairs, operate robotic arms, and even facilitate communication, transforming the lives of many who face daily challenges due to their conditions.
Tether’s investment, drawn from company profits rather than stablecoin reserves, is set to boost the commercialization and broader application of these technologies. Paolo Ardoino, CEO of Tether, shared his enthusiasm for this collaboration, noting that such investments are aligned with Tether’s vision to support technologies poised to redefine our interaction with the digital and physical world.
“Investing in Blackrock Neurotech’s BCI technology could dramatically shift how we approach communication, rehabilitation, and even cognitive enhancement,” Ardoino remarked. This sentiment is echoed by Dr. Florian Solzbacher, co-founder of Blackrock Neurotech, who sees the partnership as a milestone towards realizing groundbreaking healthcare solutions globally.
Dr. Solzbacher, whose career has been dedicated to restoring lost functions in individuals through advanced technology, expressed gratitude for Tether’s support. “Our shared long-term vision with Tether helps us push the envelope not just in healthcare, but in the potential of human achievement through technology,” he said.
Tether’s broader strategy includes nurturing emerging technologies that hold potential to revolutionize industries. The investment in Blackrock Neurotech is a testament to this, signaling a commitment to not just financial technologies but also innovations that improve human conditions and capabilities.
Tether’s role in technological innovation extends beyond its recent biotech venture. With the launch of Tether Evo, the company has been at the forefront of integrating digital currencies with practical applications across various sectors.
The company’s activity on different blockchains, such as the recent launches on TON and Celo, demonstrates its strategic approach to enhance accessibility and utility of the USDT stablecoin globally. The launch of Tether Gold (XAUT) on TON, for example, offers users diversified investment options within the blockchain ecosystem, marking another step towards broadening its footprint in the digital asset space.
With a record net profit of $2.9 billion reported in the last quarter of 2023, Tether’s financial health appears robust, supporting its expansion and innovation across different platforms and industries.
Tether’s venture into healthcare through Blackrock Neurotech is not just an investment in technology, but in the future of human health and capabilities. As the company continues to diversify its involvement in areas outside traditional cryptocurrency applications, it sets a precedent for how tech companies can influence broader societal advancements.
This bold move could potentially pave the way for new treatments and solutions that merge human cognitive functions with digital precision, pointing towards a future where technology and healthcare intersect in revolutionary ways.
