Tether, who gave behind the nearly $ 150 billion USDT Stablecoin, finished buying a 70% stake at the Latin American agricultural firm Adecoagro (Agro), with a market cap of nearly a billion dollars.
Tether first invested $ 100 million in Adecoagro in September 2024 for a 9.8% stake, after offered to supplement it to 51% In February, and Finally raised it to control 70% In March.
Read more: Tether’s $ 100m investment in Latam Agriculture Firm can be a playing tokenization
Most of this stake provides control over Tether to one of the most popular food and bioenergy manufacturers of the region. Adecoagro owns mills, rice fields, dairy operations, and changeable energy assets across Brazil, Argentina, and Uruguay.
Tether said It aims to assist the Adecoagro output scale while aligning with the company with its mission to promote “economic freedom” through decentralized finances and investment in non -prevailing markets.
The move may be part of Tether’s ambition to token real-world assets, as it launched the Hadron asset tokenization service last year. The platform is designed to simplify the process of converting a wide range of real-world assets, including bonds, goods, stocks, other stablecoins, and loyalty points to digital tokens on blockchain metals.
Read more: Tether announced the new platform to simplify asset tokenization for businesses, country-states
“By aligning the proven adecoagro’s expertise in agriculture and changeable energy, we take another concrete step towards the bridging traditional future industry of decentralized finances and economic strengthening,” said Paolo Ardoino, Tether’s CEO.
Following the deal, Adecoagro’s board was re -formed. Five members were dropped and replaced by executives tied to Tether and its strategic goals. Juan Sartori, a Uruguayan businessman who has political and agricultural interest, was taken as chairman.
Last year, Tether launched Bitcoin mining, AI, and discreuted communication adventures. Agro’s sharing reached 2.6% on Wednesday.
Read more: Tether’s $ 100m investment in Latam Agriculture Firm can be a playing tokenization
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