Tether, the stablecoin issuer, has made a significant investment of 0 million in Blackrock Neurotech through its venture division, Tether Evo. This move has positioned Tether as the majority stakeholder in the renowned biotech firm known for its advancements in brain-computer interface (BCI) technology. The infusion of funds is intended to support Blackrock Neurotech’s commercialization efforts for its medical tools and to further boost its research and development endeavors.
This investment follows Tether reporting a remarkable net profit of .9 billion in the fourth quarter of 2023. Tether’s Chief Technology Officer, Ardoino, expressed excitement about the partnership with Blackrock Neurotech, highlighting the potential for technology to enhance communication, rehabilitation, and cognitive functions.
Blackrock Neurotech, established in 2008, specializes in BCI technology that allows individuals with paralysis and neurological disorders to control devices using their thoughts. The company gained recognition in 2016 when a patient used their technology to interact with former U.S. President Barack Obama.
Dr. Florian Solzbacher, co-founder of Blackrock Neurotech, emphasized the importance of partnering with Tether in advancing healthcare technologies. Tether’s investment through Tether Evo is part of the company’s broader strategy to expand beyond stablecoins. Tether has introduced various divisions, including Tether Data, Tether Finance, Tether Power, and Tether Education, aiming to integrate technology and unleash human potential.
