Tether is developing several AI apps and an open-source SDK platform

The apps are part of Tehter's broader push to develop open-source, multimodal AI models for real-world use cases.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Tether, the issuer of the world’s largest stablecoin, is expanding its artificial intelligence (AI) capabilities.

On Feb. 4, Paolo Ardoino, the company’s CEO, revealed that the firm is working on several AI-driven applications while preparing to launch an open-source software development kit (SDK) platform.

According to him:

“Tether Data, preview of some of the AI apps we’re developing: AI translate, AI voice assistant, AI bitcoin wallet assistant.”

These applications are designed to function directly on user devices, ensuring data privacy and self-custody of digital assets.

Additionally, Tether is building an AI SDK platform that is compatible with multiple devices, from embedded hardware and mobile phones to high-performance computing systems. The SDK will be built on Bare, the JavaScript runtime from Holepunch, and will support open-source development.

This initiative follows Tether’s announcement in early 2024 about its expansion into AI. The company had outlined its vision for open-source, multimodal AI models for real-world use cases. The latest developments show Tether’s intention to engage with the broader AI and crypto ecosystems.

Tether has launched a global hiring drive that is actively seeking AI professionals to support these efforts. It has also announced job openings for AI filmmakers.

Tether’s USDT grows despite regulatory scrutiny

Tether’s AI push comes as its flagship stablecoin, USDT, continues to dominate the market.

Over the past week, the company minted an additional $2 billion in tokens, bringing the total USDT supply to $140 billion. This reinforced its position as the largest stablecoin on the market despite ongoing regulatory challenges.

European compliance pressures have led to USDT’s delisting from three major exchanges, including Coinbase, Kraken, and Crypto.com. These platforms attributed their decisions to efforts to comply with the European Union’s Markets in Crypto-Assets Regulation (MiCA), which is still in its early implementation phase.

Tether has criticized the rapid enforcement of these measures, arguing that such actions could disrupt market stability and introduce unintended risks for consumers. The company believes regulatory clarity is necessary but warns against premature steps that could harm the broader digital asset ecosystem.

Mentioned in this article