PYMNTS MonitorEdge May 2024

Tether Acquires Majority Stake in Brain-Computer-Interface Developer Blackrock Neurotech

brain-computer-interface technology

Tether, the company behind the stablecoin USDT, has announced a strategic investment in Blackrock Neurotech, a pioneer in brain-computer-interface (BCI) technology.

The $200 million investment grants Tether a majority stake in the neurotech firm, Tether said in a Monday (April 29) press release

Blackrock Neurotech, known for its groundbreaking work in the BCI field, has been at the forefront of developing technologies that enable direct communication between the human brain and external devices, according to the release.

This technology has vast potential applications, including helping people use only their thoughts to operate robotic arms, maneuver wheelchairs, surf the web or drive a car, per the release.

“My life’s dream has been to help and restore function in people who lost it and to advance technologies that revolutionize healthcare and the world around us,” Florian Solzbacher, co-founder of Blackrock Neurotech, said in the release.

The partnership is poised to accelerate the development and commercialization of Blackrock Neurotech’s BCI technology, according to the release.

Both companies have expressed their enthusiasm for the partnership, highlighting the alignment of their visions for the future of technology and its role in improving human life, the release said. Tether’s strategic investment in Blackrock Neurotech underscores the growing interest in neurotechnology and its potential to revolutionize various industries.

This investment also reflects Tether’s broader strategy of diversifying its portfolio and engaging with cutting-edge technologies that have the potential to redefine our interaction with the digital world, per the release. As the majority stakeholder, Tether is set to play a crucial role in guiding Blackrock Neurotech’s strategic direction and scaling its innovative BCI solutions to new heights.

“Tether has long believed in nurturing emerging technologies that have transformative capabilities, and the Brain-Computer-Interfaces of Blackrock Neurotech have the potential to open new realms of communication, rehabilitation and cognitive enhancement,” Paolo Ardoino, CEO of Tether, said in the release.

In another recent development at Tether, the company said April 19 that it partnered with the TON Foundation to enable customers to send cryptocurrency payments using encrypted messaging service Telegram.

This collaboration aims to create an app that serves as both a communication system and a bank account.