Stablecoin company Tether announced a strategic investment in LayerZero Labs on Tuesday, as per an official press release.
Tether has not disclosed the exact amount invested. The update comes after Tether announced a $150 million investment in gold.com and $100 million investment in Anchorage Digital.
The announcement marks a closer partnership between the two companies in the cryptocurrency sector. LayerZero Labs is the official framework that powers the USDT0 and the XAUT0 tokens. It is also known for providing interoperability for blockchains to move digital assets efficiently.
“Tether invests in infrastructure that is already delivering real-world utility,” said Tether’s CEO, Paolo Ardoino.
“LayerZero Labs has built interoperability technology that allows digital assets to be transferred in real-time across any transport layer and distributed ledger, enabling a fundamental utility within the financial industry,”
“This enables digital assets to serve the infinite agentic AI economy that will require such primitives to orchestrate micro-payments at an unprecedented scale.”
The investment was made by Tether’s investment arm, Tether Investments. At the time of writing, Tether’s market capitalization was $184.36 billion, according to coinmarketcap.com.
“Tether is a company the world envies. They have turned a vision of borderless money into a reality,” said LayerZero’s CEO Bryan Pellegrino.
“The success of USDt0 was an important stepping stone. Having Tether deepen its commitment with this investment is the ultimate validation. We are thrilled to continue building the rails for global permissionless markets together.”