Stablecoin issuer Tether invested $200 million Neurotech Blackrock take a majority share in launching the brain-computer interface.
The Salt Lake City-based company creates brain-computer interfaces and implants that allow people to regulate computers and neuroprostheses. Before the latest round from Tether, the company had raised only $10 million, in response to Crunchbaseand values Blackrock Neurotech at roughly $350 million, in response to Reuters.
The deal is the latest headline for brain-computer interface technology to be pushed Elon Musk‘S Neuralink. The company recently live-streamed a quadriplegic man playing video games with his implant. He raised almost $700 million, on Crunchbase.
Investing in innovation
Tether’s investment in Blackrock Neurotech comes from Tether’s recently launched Evo arm, which is dedicated to “pushing humanity into a future where technology and human capabilities come together like never before,” it says website.
“Blackrock Neurotech is just the beginning of our journey through Tether Evo to undertake projects that redefine the boundaries of what is possible at the intersection of technological innovation and human potential.” he said Paolo Ardoino, CEO of Tether. “Tether has long believed in developing new technologies with transformative potential, and Blackrock Neurotech’s brain-computer interfaces have the potential to open up new areas of communication, rehabilitation and cognitive enhancement.”
Tether begins investing after accumulating profits from its stock of US Treasuries and other financial instruments it holds to back the USDT stablecoin, in response to Bloomberg. USDT goals to keep up the value of the US dollar.