Tether Buys Minority Stake in Juventus FC
Tether, a stablecoin issuer, purchased a minority interest in Juventus FC, a legendary Series A football team established in Turin, Italy
The investment backs Tether’s objective of incorporating digital assets, stablecoins, and human-first technology into daily life, according to the announcement made on October 14.
The investment’s financial specifics were not revealed.
The business stated that it hopes to make “strategic investments” in international sports teams to expand its user base for digital assets and payments. Juventus is the eleventh most valuable football team valued at $2.05 billion.
Tether’s investment in Juventus follows the stablecoin issuer’s record-breaking year. The company’s holdings of low-risk US Treasury bonds hit an all-time high of $113 billion in 2024, generating $13 billion in profits.
This expands on Tether’s earlier efforts with professional sports organizations. This sponsorship and Tether’s small ownership of Juventus further demonstrate the company’s commitment to encouraging the use of stablecoins and blockchain technology in mainstream industries like sports.
Tether will also invest in cutting-edge technologies like biotech, AI, and digital assets with the venerable sports sector to promote change on a global scale. “We’ll look into opportunities for creative partnerships and the possibility of completely changing the sports scene worldwide,” said Tether CEO Paolo Ardoino
ABOUT THE AUTHOR
See More
Sidebar rates
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals