Summary
- Tether has reportedly expanded its influence by increasing its stake in the South American agricultural company Adecoagro from 51% to 70%.
- Adecoagro is a Nasdaq-listed company with a market capitalization of approximately 1.12 billion dollars, and this is seen as part of a real estate investment.
- Additionally, Tether is pursuing the acquisition of a 30% stake in the Italian media group 'Be Water', strengthening its growth strategy.
Stablecoin USDT issuer Tether has significantly increased its stake in the South American agricultural company Adecoagro.
According to CoinDesk on the 27th, Tether recently purchased additional shares of Adecoagro, raising its stake from 51% to 70%. Adecoagro is an agricultural company listed on the US Nasdaq. Adecoagro's market capitalization is approximately 1.12 billion dollars (1.65 trillion won).
The industry views Tether's increased stake in Adecoagro as part of a real estate investment. Adecoagro has farms and production facilities covering 214,000 hectares in Brazil, Argentina, and Uruguay.
Tether is also pursuing the acquisition of a 30% stake in the Italian media group 'Be Water'. The acquisition amount is known to be around 10 million euros (approximately 15.8 billion won).
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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