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Tether invested $7.5 million in Utexo to develop USDT settlements on the Bitcoin network
Tether, along with investors Big Brain Holdings, Portal Ventures, and Franklin Templeton, invested $7.5 million in the startup Utexo, which is developing infrastructure for direct USDT settlements on the Bitcoin network and payments via the Lightning Network. According to Tether CEO Paolo Ardoino, this will strengthen Bitcoin's role as a global dollar settlement network; the current USDT volume is approximately $184 billion.