Tether Acquires 9.8% Stake in Latin American Agricultural Giant Adecoagro to Diversify Its Investments

Tether CEO Paolo Ardoino expressed satisfaction with this decision, mentioning that his childhood was closely tied to farming with his parents.

Cryptocurrency stablecoin issuer Tether has acquired a significant stake in Latin American agricultural giant Adecoagro as part of the company’s strategy to diversify its investment portfolio.

A subsidiary of popular Bitcoin exchange Bitfinex, Tether handles all financial activities for the USDT stablecoin. Since its launch, USDT has remained the top stablecoin in the crypto market despite facing intense regulatory scrutiny. This is largely due to the first-mover advantage that the stablecoin boasts.

Now, Tether has made a major move by investing $100 million in Adecoagro, acquiring 9.8% of the company’s shares. This marks the stablecoin issuer’s first foray into a non-crypto sector.

notable point is that Adecoagro is a leading milk producer in Argentina and also manages over 193,000 hectares of sugarcane crops in Brazil, where it produces refined sugar and ethanol.

Tether’s Dream to Help El Salvador Adopt Bitcoin Comes True, More Countries to Follow Suit?

As a refresher, over the past 12 months, Tether has showcased its dominance in the crypto industry by generating record revenue through USDT transactions and allocating substantial funds in both crypto and non-crypto sectors.

In the second quarter of 2024, Tether reported a net revenue of $1.3 billion, a remarkable achievement for any company.

Tether Q2 2024 attestation is out.

Another great quarter.

A short summary as of 30 June 2024:

– $1.3 billion in net operating profit.

– $520 million increase in Tether's Group own equity, bringing it to a total of $11.9 billion.

– $5.33 billion in excess reserves

– more than… https://t.co/f0vb4VfmYB

Tether’s Q2 2024 attestation is out.

Another great quarter.

A short summary as of 30 June 2024:* $1.3 billion in net operating profit.* $520 million increase in Tether's Group own equity, bringing it to a total of $11.9 billion.* $5.33 billion in excess reserves* more than… https://t.co/f0vb4VfmYB

Moreover, Tether’s parent company Bitfinex played a key role in assisting El Salvador with the technical aspects of adopting Bitcoin three years ago.

Recently, Paolo shared that this was a proud moment for Tether to help El Salvador in the Bitcoin adoption journey, suggesting that even bigger developments, such as more widespread Bitcoin adoption, are on the horizon.

We are proud to have supported El Salvador on their brave move 3 years ago to adopt Bitcoin as legal tender.

It’s amazing to see the progress that has been made and there is even more to come! https://t.co/xVUSdqIjegWe are proud to have supported El Salvador on their brave move 3 years ago to adopt Bitcoin as legal tender.

It’s amazing to see the progress that has been made and there is even more to come! https://t.co/xVUSdqIjeg

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