Tether announced on Tuesday the inclusion of Hong Kong's encrypted payment application, Fizen, in its increasingly diversified portfolio, including football clubs, farms and a company that develops computer brain interfaces. Fizen had previously raised $1.2 million from investors to become a “super-application” focused on the practical application of encrypted currency (e.g., cell phone filling and the purchase of film tickets).
In a press release, Tether's Chief Technical Officer, Paolo Ardoino, stated: “Tether's investment in Fizen demonstrates our commitment to expanding global access to efficient and reliable digital financial solutions that can facilitate the wise and responsible use of digital assets in everyday life.”
This investment in Fizen is the third major deal between Tether since the beginning of this year. Previously, Tether invested $11 million in the media company Be Water and acquired part of the shares of the Italian football club Yuventus. In addition, Tether offered $385 million to try to fully own a South American agribusiness.
Despite the increased speed and lower cost of trading with the Taifeng network, investors do not seem to show particular excitement. At the same time, Tether increased investment after reporting that his reserves had earned $13 billion in 2024.
As a USDT distributor, Tether is one of the world's leading stables, accounting for 62 per cent of the entire stables market. It joined other strategic investors in Fizen, including the block chain development company Sotatek and the Vietnamese software development company VNext.
The founder and CEO of Fizen, Leo Vu, stated that the company ' s goal was to provide encrypted payment services without even being aware that it was using block chain technology. “Technology infrastructure is in place”, he said, “We lack consumer-friendly applications”.