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Tether, the issuer of the world’s largest stablecoin, has invested $100 million to acquire a 9.8% stake in Latin American agricultural giant Adecoagro. This is Tether’s first investment in the agriculture and food sector.&nbsp;&nbsp;
Previously, Tether had made strategic investments in emerging technologies, such as artificial intelligence and peer-to-peer platforms, Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) mining operations, and digital education initiatives, the company <a data-ct-non-breakable="null" href="https://www.sec.gov/Archives/edgar/data/1499505/000110465924090580/tm2421820d1_sc13d.htm" rel="noopener noreferrer nofollow" target="null" text="null" title="null">said</a> in a filing.&nbsp;
<figure><img alt="Tether invests $100M in agriculture firm as stablecoin competition grows" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191d1d0-d2ca-7a9d-97c3-b736db891b3b">
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 Filing with the US Securities and Exchange Commission. Source: <a data-ct-non-breakable="null" href="https://www.sec.gov/Archives/edgar/data/1499505/000110465924090580/tm2421820d1_sc13d.htm" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://www.sec.gov/Archives/edgar/data/1499505/000110465924090580/tm2421820d1_sc13d.htm">sec.gov</a>
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Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bridge-stablecoin-network-raises-58m" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Former Square, Coinbase execs raise $58M for Bridge stablecoin network</a>
<h2 id="strong-tether-used-working-capital-funds-for-the-investment-strong">Tether used working capital funds for the investment</h2>
Tether said in its filing that it “used cash from its own working capital” for the Adecoagro investment. Tether now owns 10,048,249 shares of Adecoagro, representing 9.8% of the “outstanding common shares”.
Founded in 2002, Adecoagro is a major milk producer in Argentina, with 550 thousand liters per day of processing capacity at its Buenos Aires plant in Argentina, <a data-ct-non-breakable="null" href="https://www.adecoagro.com/en/our-businesses/milk" rel="noopener noreferrer nofollow" target="null" text="null" title="null">according</a> to its website. The company entered sugar, ethanol and energy businesses in Brazil in 2005.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/argentina-ethereum-education-buenos-aires-schools" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Argentina adds Ethereum to Buenos Aires high school curriculum</a>
<h3 id="strong-usdt-sees-increasing-competition-in-stablecoin-market-strong">USDT sees increasing competition in stablecoin market</h3>
Tether’s USDT (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tether-price-index" rel="noopener noreferrer nofollow" target="null" text="null" title="https://cointelegraph.com/tether-price-index">USDT</a>) is the largest stablecoin, boasting a market capitalization of over $118 billion, according to <a data-ct-non-breakable="null" href="https://coinmarketcap.com/currencies/tether/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">data</a> from CoinMarketCap. Tether recently announced <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tether-aed-stablecoin-uae-partners-launch" rel="noopener noreferrer nofollow" target="null" text="null" title="null">plans to introduce a new stablecoin</a> pegged to the United Arab Emirates dirham (AED).
The new stablecoin will be launched in partnership with UAE-based Phoenix Group and Green Acorn Investments. This collaboration aims to create a digital version of the dirham currency, which is “fully backed by liquid UAE-based reserves.”
<figure><img alt="Tether invests $100M in agriculture firm as stablecoin competition grows" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191d1d5-87a6-74f6-a6fc-85d76d19db0a">
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 USDT’s financials. Source: <a data-ct-non-breakable="null" href="https://coinmarketcap.com/currencies/tether/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">CoinMarketCap</a>
 
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However, competition has been intensifying in the stablecoin market with the introduction of new players, like PayPal’s US dollar-pegged stablecoin, PayPal USD, which has <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/paypal-pyusd-stablecoin-1-billion-market-cap" rel="noopener noreferrer nofollow" target="null" text="null" title="null">already surpassed $1 billion in total market capitalization</a>.&nbsp;
Ripple Labs has also announced the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ripple-begins-testing-rlusd-stablecoin-mainnet" rel="noopener noreferrer nofollow" target="null" text="null" title="null">first tests of its United States dollar-pegged</a> stablecoin, Ripple Labs’ Ripple USD (RLUSD), on the XRP ledger and Ethereum mainnets. It plans to launch the fiat-backed token on more blockchain networks in the future.
On Aug. 26, the market capitalization for stablecoins, excluding algorithmic ones, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/stablecoin-market-cap-hits-new-all-time-high" rel="noopener noreferrer nofollow" target="null" text="null" title="null">hit a record $168 billion.</a> The market hit an all-time high of $167 billion in March 2022 but fell to $135 billion by the end of that year.<iframe width="100%" height="315" src="https://www.youtube.com/embed/-Fl3rP7jgAc" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
Are Exchanges Delisting USDT? | Tether CEO Interview
 Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-mining-crackdown-epicenters-nft-phishing-scam-asia-express/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Bitcoin miners steamrolled after electricity thefts, exchange ‘closure’ scam: Asia Express</a>

Tether invests $100M in agriculture firm as stablecoin competition grows

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