The issuer behind about 150 billion USDT Stabelcoins, Tether, has finalized the purchase of a 70% stake in the Latin American agricultural firm Adecoagro (Agro), with a market cap of about one billion dollars.
Tether initially invested $ 100 million in Adecoagro for 9.8% stake in September 2024, then Offered to increase it by 51% In February, and finally it raised it to control 70% in March.
Read more: Tether’s $ 100M investment in launde agricultural firm can be a ruckus game
This majority gives teder control over the most prominent food and one of the bio -organ producers in the sector. Adecoagro owns sugar mills, rice fields, dairy operations and renewable energy property in Brazil, Argentina and Uruguay.
Teder said It aims to help the company to produce adaCoagro by aligning the company with a mission to promote “economic freedom” through decentralized finance and investment in undersked markets.
This step may be part of Tedhar’s ambition to tokens the real -world assets, as it launched its asset tokennail service headron last year. The platform was designed to simplify the process of converting a wide range of real -world assets, including bonds, commodities, stocks, other stabelines and loyalty points in digital tokens on blockchain rail.
Read more: Tether businesses unveil the new platform to simplify asset tokens for nation-states
“By aligning with perfect expertise in agriculture and renewable energy of Edakogro, we are taking another concrete steps towards bridge with traditional industries with the future of decentralized finance and economic empowerment,” said Tither’s CEO Paolo Erdino.
After the deal, the board of Adecoagro was also reshuffled. Five members stepped down and were replaced by the officials tied to Tithi and its strategic goals. Juan Sartori, a businessman from Uruguay, took over as the chairman with political and agricultural interests.
In the last one year, Tither has launched Ventures in bitcoin mining, AI and encrypted communications. Agro shares were up 2.6% on Wednesday.
Read more: Tether’s $ 100M investment in launde agricultural firm can be a ruckus game
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