September 08, 2024
Tether, the issuer of the world’s largest stablecoin, has invested $100 million to purchase a 9.8% stake in Adecoagro, a major agricultural company in Latin America. This marks Tether’s first foray into the agriculture and food sector. Prior to this, Tether had strategically invested in emerging technologies, including artificial intelligence, peer-to-peer platforms, Bitcoin mining operations, and digital education initiatives, according to a company filing.
Project | Latest Raise | Latest Raise Date | Lead Investor | Category |
|---|---|---|---|---|
Adecoagro | $100M | September 08, 2024 | Tether | Agruculture |
In its filing, Tether stated that it utilized cash from its own working capital for the investment in Adecoagro. Tether now holds 10,048,249 shares of Adecoagro, which accounts for 9.8% of the outstanding common shares.
Adecoagro, established in 2002, is a significant milk producer in Argentina, with a processing capacity of 550 thousand liters per day at its Buenos Aires plant. The company expanded into the sugar, ethanol, and energy sectors in Brazil in 2005.
About Adecoagro
Adecoagro is an agro-industrial company that produces and manufactures food and renewable energy. Founded in 2002, it operates in Argentina, Brazil, and Uruguay. The company is involved in various sectors, including dairy, sugar, ethanol, and energy production. Adecoagro is known for its entrepreneurial culture and continuous efforts to improve its operations. It aims to create sustainable and efficient agricultural practices while contributing to the renewable energy sector.
Website: https://www.adecoagro.com/en
About Investor
Investor: Tether
Tether was founded by a group of Bitcoin enthusiasts and early adopters who were passionate about facilitating the use of fiat currencies in a digital manner. In 2014, the company launched Tether.to, a blockchain-enabled platform aimed at disrupting the conventional financial system with a more modern approach to money1. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies, Tether created a revolutionary building block that companies worldwide can use to offer democratized cross-border financial services. With Tether tokens, customers can confidently transact with traditional currencies using blockchains as transport layers, without the volatility and complexity typically associated with digital currencies.
Location: British Virgin Islands
Website: https://tether.to/en/
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