A well-known stablecoin maker called Tether has put $200 million into the biotechnology company Blackrock Neurotech through its venture arm, Tether Evo. With this investment, The stablecoin maker will become the main partner in Blackrock Neurotech, known for its groundbreaking work in brain-computer interface (BCI) technology.
The extra funds is planned to help Blackrock Neurotech commercialize its medical innovations and accelerate its current research and development projects.
The stablecoin maker made this financial move after saying it had a huge net profit of $2.9 billion in the last quarter of 2023. According to a spokesperson for the stablecoin maker , Paolo Ardoino, the partnership is very exciting. He said that Blackrock Neurotech is just the first step on stablecoin maker Evo’s path to find projects that push the limits of technology and human ability.
Tether Diversifies Into Healthcare.
Ardoino discussed how Blackrock’s technology could improve thinking, communication, and rehabilitation skills. Since its founding in 2008, Blackrock Neurotech has become a leader in BCI technology, which lets paralyzed people or people with neurological conditions use their thoughts to control equipment. In 2016, Nathan Copeland used this technology to talk to Barack Obama, then-President of the United States. This was an important use of the technology.
Dr. Florian Solzbacher, one of the founders of Blackrock Neurotech, thinks that the partnership with The stablecoin maker is very important for the progress of medical technology. With its funding through the Evo, The stablecoin maker is strategically moving beyond stablecoins. The company has added more divisions to its collection, such as Tether Data, Finance, Power, and Education. These divisions are all focused on combining technology with people’s abilities.
