Tether Confirms Acquisition of 70% Stake in Adecoagro, Accelerating Business Expansion
Summary
- Tether announced that it has accelerated its business expansion by acquiring a 70% stake in the South American agricultural company Adecoagro.
- Tether stated that through the acquisition, it will contribute to the expansion of Adecoagro's production.
- Tether's Hadron service aims to convert various real-world assets into blockchain-based tokens.
Tether (USDT) has acquired a 70% stake in the South American agricultural company Adecoagro.
According to CoinDesk on the 1st (local time), Tether recently secured a 70% stake in Adecoagro. Adecoagro is a company with large-scale agricultural production facilities in three countries: Brazil, Argentina, and Uruguay.
Previously, in September last year, Tether invested $100 million in Adecoagro to acquire a 9.8% stake. Through additional investment, Tether increased its stake in Adecoagro to 51% in February this year. Tether stated, "The goal of the (stake acquisition) is to contribute to the expansion of Adecoagro's production in line with the company's mission to promote 'economic freedom'."
There is also analysis that Tether acquired the stake in Adecoagro for its Real World Asset (RWA) business. Last year, Tether launched an asset tokenization service called 'Hadron'. CoinDesk reported, "(Hadron) is designed to simplify the process of converting various real-world assets such as bonds, commodities, and stocks into blockchain-based tokens."
JOON HYOUNG LEE
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