The issuer of USDT, Tether announced a strategic investment in Northern Data Group to leverage its data processing facilities.
The largest stablecoin company is expanding its reach beyond finance technology (FinTech) and the crypto sector with its recent investments in energy production, mining and communication technology.
Northern Data Group is an infrastructure provider company in the field of high-performance computing (HPC). It offers B2B solutions to high-frequency data processing applications such as artificial intelligence, big data analytics, blockchain and bitcoin mining.
The official release stated that as an emerging leader in advanced technological innovations, Northern Data Group’s commitment towards providing data facilities aligns with Tether’s vision.
Tether said that the collaboration will help it develop solutions by leveraging AI, p2p communications, and resilient data storage. It will also foster Tether’s existing users.
Paolo Ardoino, the Chief Technology Officer at Tether, stated in the blogpost,”We are excited about this investment into Northern Data Group as it represents a fresh venture into new technological frontiers”.
He added, “This investment underscores our commitment to responsible growth and innovation while preserving the strength and integrity of Tether tokens’s reserves.”
The investment is made through a group company, Damoon, which is a separate entity, and it does not impact Tether’s reserve.