Tether CEO Paolo Ardoino Reveals the Company Will Launch a New Class of Digital Asset Products on June 17

Tether CEO Paolo Ardoino revealed that the company would launch a new class of digital asset products on June 17.

Tether to launch new digital asset products on June 17 - CryptoSlate

After a year of hard work, Tether will unveil its new class of digital assets products on Monday 17th June.

Tether CEO Paolo Ardoino revealed this news in a post on social media platform X, promising further details soon.

In May, Ardoino hinted at Tether's plans to eliminate monopolistic intermediaries in financial markets. At the time, he disclosed plans for a peer-to-peer financial markets terminal utilizing Holepunch technology, stating:

“Tether might put significant resources to build a P2P financial markets terminal, based on Holepunch tech. As humanity is enjoying getting rid of monopolistic intermediaries for payments, we could also enjoy the same result in financial markets data infrastructure.”

Tether did not immediately respond to CryptoSlate's request for comment at the time of publication.

Tether’s diversification efforts

Over the past year, Tether has ramped up its diversification efforts beyond its USDT stablecoin product. The company has restructured its operations into four distinct sectors, including finance, data, education, and power.

These restructuring efforts are aimed at enhancing its USDT distribution network and investing in ventures such as AI and Bitcoin mining, among others.

Ardoino has emphasized the company's commitment to this strategy, announcing plans to invest over $1 billion in various deals within the next year. He reportedly said:

“It’s all about investing in technology that helps with disintermediation with traditional finance. Less reliance on the big tech companies like Google, Amazon and Microsoft.”

These diversification efforts come as Tether's finances have improved, with the company generating substantial profits in the first quarter, according to its report. The company’s USDT stablecoin accounts for around 70% of the market.

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