Tether invests $5.2 million in Ark Labs, aiming to bring stablecoins to Bitcoin infrastructure

Tether (USDT), issuer of the dollar-pegged stablecoin, has made a strategic investment in Ark Labs, a Bitcoin (BTC) infrastructure developer.

Tether said on the 12th (local time) it has decided on a $5.2 million strategic investment in Ark Labs. Ark Labs is the developer of the Bitcoin infrastructure project “Arkade.” Tether said, “This investment is intended to expand stablecoin accessibility on the Bitcoin network,” adding that “Ark Labs is uniquely positioned to lead the next generation of commerce and retail payments.”

With the latest round, Ark Labs has raised a cumulative $7.7 million. A Tether official said, “This will enable Ark Labs to respond more effectively to rising demand from both individuals and institutions for Bitcoin infrastructure.”

Paolo Ardoino, CEO of Tether, stressed that “expanding stablecoin accessibility on the Bitcoin network is a top priority.” Ardoino said, “Ark Labs is building infrastructure that makes it easier to issue and settle stablecoins directly on the Bitcoin network,” adding that it will “improve access to Tether on the most secure and widely recognized blockchain, enhancing financial inclusion and boosting the efficiency of cross-border payments.”