23 December 2023 – Following recent initiatives to promote blockchain innovation in Georgia, Tether today announced that it has invested an undisclosed amount into the Series-A investment round of Academy of Digital Industries, a Georgia-based progressive education platform offering an extensive range of digital training and masterclasses. This collaboration marks another milestone for Tether Operations Limited (Tether), the company operating the first and most widely used stablecoin, USDt. The investment will be ongoing and provide long-term financial assistance to build and boost a new frontier for education, providing a wide range of courses, both digital and traditional.
Founded in June 2018, the Academy of Digital Industries is built around the concept of online workshops and masterclasses that are carefully crafted to promote self-development and skillset growth. Using innovative approaches to learning that move beyond traditional educational courses, the Academy of Digital Industries has seen a consistent annual increase in student enrollment, boasting nearly 20,000 graduates and delivering close to 1,900 classes. Subject matters that the Academy offers in its learning classes include cutting-edge Design, Engineering/programming, Marketing and Business related courses Microsoft certification, financial modeling, graphic design, information technology, UI/UX design, programming, SEO optimization, and more.
By partnering with Tether, the Academy will now execute a broader global strategy, including across all its educational offerings Bitcoin, stablecoins, peer-to-peer technologies, and AI. By combining Tether’s global network, its user base, and expertise in modern payment and communication domains with the Academy’s innovative learning platform, students will have the opportunity to gain valuable hands-on experiences in several rapidly evolving industries.
"Tether is a strong believer in financial freedom, freedom of communications, and freedom of education. High quality, accessible, and unbiased education is one of the most important pillars for the future of humanity”. said Paolo Ardoino, CEO of Tether. “Our ongoing investments into general and domain-specific education spanning across hundreds of disciplines and geographies, are congruent with Tether’s long-term goals of championing financial freedom and innovation across the globe. Tether is thrilled to collaborate with the Academy of Digital Industries, whose innovations are significantly increasing access to this crucial education in Georgia, with plans to expand rapidly globally. Our shared vision is to bridge knowledge gaps, making information, technology, payments, and communication more accessible and understood, and ultimately drive their global adoption."
In addition to announcing this partnership, Tether also completed its first educational program in the country of Georgia titled “Mastering The Blockchain,” which was created in collaboration with the Academy of Digital Industries, as well as the Georgian Agency for Innovation and Technology (GITA) and Business and Technology University. This three-week intensive course taught Georgian and foreign students about the fundamentals of Bitcoin, blockchain, and peer-to-peer technologies, as well as their impact on both traditional and decentralized finance.
Tether’s “Mastering the Blockchain'' course featured guest lecturers from the Plan ₿ Summer School, which welcomed nearly 80 students from across 28 countries to attend its second annual 10-day program in the Swiss city of Lugano. Confirmed speakers include Paolo Ardoino, CEO of Tether and CTO of Bitfinex, Mathias Buus, CEO of Holepunch, Zulfi Moledina, Senior Training Specialist at Chainalysis, George Gvazava, the Chief Crypto Officer at Bank of Georgia, and Beka Kemertelidze and Eralp Tatipoglu, co-founders of CityPay.io.
This collaboration is a testament to Tether's dedication to education, further solidifying its position as a leader in the blockchain industry. By joining forces with the Academy of Digital Industries, Tether has taken a significant step toward building a more inclusive and educated digital future.
FAQs
Tether maintains world-class standardised compliance measures for anti-money laundering (AML), countering the financing of terrorism (CFT), sanctions, and know your customer (KYC) laws and regulations. A highly-trained customer support team is ready to help you 24/7.
What is the point of owning Tether? ›
Tether's (USDT) aim is to provide a less volatile digital currency by pegging its value to the US dollar at a 1:1 ratio.
What is the benefit of Tether? ›
USDT is a pegged cryptocurrency, meaning its value is only as volatile as that of the U.S. dollar. Other examples are USD Coin (USDC), Binance USD (BUSD), and Dai (DAI). One of the benefits of tethering is that it allows investors to easily move money between cryptocurrency markets and the traditional financial system.
Why use USDT instead of USD? ›
This 1:1 ratio between USDT and USD means its value mirrors cash for convenient conversion into other coins and tokens across the crypto ecosystem. As the dominant asset-backed stablecoin worldwide, USDT provides price stability and liquidity for billions in daily Bitcoin, Ethereum, and cross-border transactions.
What makes a Tether special? ›
Tether was created to bridge the gaps between fiat currencies and blockchain assets while offering transparency, stability, and low fees for USDT users. Tether is pegged against the U.S. Dollar at a 1:1 ratio.
Why are people using Tether? ›
Launched in 2014, Tether tokens (USD₮) pioneered the stablecoin model and are the most widely traded. Tether tokens offer the stability and simplicity of fiat currencies coupled with the innovative nature of blockchain technology, representing a perfect combination of both worlds.
Why is a Tether necessary? ›
Car seats that are tightly installed can do a good job even without tethers. But, in a severe crash, a tether limits the child's motion (A, B). This lessens the chance of serious head and neck injuries. A booster seat does not need a tether, since the lap-shoulder belt restrains the child.
What are the cons of Tether? ›
The Cons of Using Tether (USD)
Although the firm claims to have pegged each Tether coin with a US dollar, only 2.9% of the total US dollar supply is in cash. In times of turmoil, if all the investors decide to withdraw their money, the firm will have no US dollars left to offer its investors in exchange for Tether.
Is Tether 100% safe? ›
Tether is built on top of the revolutionary and cryptographically secure open blockchain technologies and adheres to strict security and global government laws and regulations. All Tether Tokens are pegged at 1-to-1 with a matching fiat currency (e.g., 1 USD₮ = 1 USD) and are backed 100% by Tether's Reserves.
Which is safer USD or USDT? ›
The choice between USDT and USDC depends on individual preferences and requirements. USDT is more widely used, while USDC is considered more trustworthy due to its regulatory compliance and transparency.
There are a few reasons why Tether (USDT) has been the subject of controversy, despite its widespread use as a trading currency on exchanges like Binance: - Lack of transparency: Tether has been criticized for a lack of transparency regarding its reserves and for refusing to submit to an audit of its reserves.
Why do traders use USDT? ›
Its primary purpose is to provide stability and act as a digital representation of the US dollar. Many traders and investors use USDT as a way to hedge against market volatility or quickly move funds between different cryptocurrencies without needing to convert to fiat currency.
Can I transfer USDT to my bank account? ›
To withdraw USDT to a bank account, you can transfer your USDT to an exchange that supports the withdrawal of USDT to a bank account. Then, you can initiate a withdrawal request and provide the necessary information, such as the bank account number, name, etc. The withdrawal process may take a few days to complete.
Why would I want to buy Tether? ›
In the volatile world of cryptocurrency, stablecoins like Tether offer up the potential for stability among the chaos. These digital assets are designed to maintain a steady valuation, shielding investors from the wild price swings commonly associated with cryptocurrencies like Bitcoin or Ethereum.
Where does Tether keep their money? ›
As a stablecoin, Tether must maintain adequate dollar reserves to back every USDT in circulation 1:1. Tether stores these reserves in bank accounts and invests them in money market funds. This allows the company to earn interest on reserves.
Is it worth investing in Tether? ›
Since its price is stable, it's not the type of crypto that you can buy and hold in hopes of the price appreciating. It can be used as a means of exchange: Tether may not be right as a crypto investment, it can however serve an exchange purpose.
Can you make money with Tether? ›
Can I make money on Tether? Yes, you can make money on Tether by earning interest through crypto lending platforms. Holding Tether (HODLing) can also be profitable, especially with platforms offering competitive interest rates.
Is it safe to keep money in Tether? ›
USDT is generally considered safe for investment, especially as a means to hedge against the volatility of other cryptocurrencies. However, like any investment, it comes with risks, and it's essential to consider Tether's efforts to maintain transparency and regulatory compliance.
What are the risks of buying Tether? ›
- Buying or selling Tether (USDT) comes with several potential risks:
- **Regulatory Risks**
- - **Legal Actions:** Regulatory authorities might impose restrictions or take legal actions against Tether or its associated entities, which could impact its value and liquidity.
