Tether, the company behind the USDT stablecoin, has been tweaking certain things to integrate AI and now, here's the latest:
Cryptocurrency company Tether, known for its USDT stablecoin, has announced plans to launch an open-sourced AI software development kit (AI SDK) on its platform. The announcement was made by Tether’s Chief Technology Officer, Paolo Ardoino, who stated that the platform will be built on Holepunch’s Bare javaScript runtime.
The goal of the AI SDK is to support applications such as AI translation, voice assistants, and Bitcoin wallet assistants. This move is part of Tether's strategy to expand beyond stablecoins and tap into the growing demand for artificial intelligence technologies.
Tether's AI SDK will support various AI applications that can operate across different hardware types, ranging from embedded systems to larger devices. The toolkit will feature AI-powered services such as AI Translate, AI Voice Assistant, and AI Bitcoin Wallet Assistant, aiming to enhance the user experience within the crypto market.
These applications are designed to simplify crypto transactions, enabling users to interact more conveniently with digital assets. Moreover, the platform's open-source nature will allow developers to freely build and modify solutions based on the SDK.
In addition to the AI SDK announcement, Tether is also working on integrating its USDT stablecoin with Bitcoin through the Lightning Network. This implementation will enable stablecoins to operate within the Bitcoin network, leveraging Bitcoin’s decentralization and security while also utilizing the speed and scalability of the Lightning Network.
To achieve this liquidity integration, Tether has partnered with Taproot Assets, the network that aims to facilitate fungibility between Bitcoin and other assets. The implementation will be handled by Lightning Labs, the team behind the Lightning Network. According to Ardoino, this integration will provide practical use cases for remittances, payments, and more.
Following this announcement, Tether has maintained its dominance in the crypto market, boasting a market capitalization of $140.49 billion and a circulating supply of 140.47 billion USDT. Despite experiencing some fluctuations, the value of 1 USDT has remained around $1, ranging between 1.0001 and 1.0011.
The 24-hour volume-to-market-cap ratio for USDT stands at 101.25%, indicating strong liquidity and continuous market activity. This cements Tether's position as a leading stablecoin in the crypto market.
