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On Fri, 7 Feb, 12:04 AM UTC
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Tether CEO Teases AI-Powered Tools Including Bitcoin Wallet Assistant
Last March Tether announced that it would be expanding its focus on AI Tether CEO Paolo Ardonio has teased the arrival of an upcoming Bitcoin wallet product, which is currently in development at the firm. This Bitcoin wallet assistant is said to be powered by artificial intelligence (AI), and will let users see chat with an AI assistant to see details about their account balances, wallet address and other similar information. This service will be part of 'Tether Data', which is the name of the newly unveiled suite of AI products that the crypto firm is working on. As part of the Tether Data suite of AI products, Tether, the issuer of the USDT stablecoin is gearing up to launch multiple products. These include an AI translate product, an AI voice assistant, as well as this AI Bitcoin wallet assistant. According to Ardonio, these products are being developed to work on an range of devices, ranging from high-end mobiles to computers as well as their budget-friendly alternatives. The CEO of Tether shared a 48-second-long clip of the AI Bitcoin wallet assistant on X. The demonstration of the 'Tether Payment Agent' showed a user fetching their Bitcoin wallet address by typing out a query. Next, the video shows the user asking the AI assistant to check their Bitcoin balance and transfer some tokens to the wallet address of a saved contact. Once the transaction was processed, the Tether Payment Agent notifies the user and shares the transaction ID. Once this service is initialised on a device, it asks the user to "Assign the agent a task, for example, ask the agent to summarise all your latest transactions." The green and black interface of the service shows the options for users to revisit their latest tasks or start a new conversation. Along with the Tether Payment Agent, Ardonio also shared short clips of the AI translate and AI voice assistant that are also under development. While the translation service will allow users to access text, audio, or videos into different languages in real time, the AI assistant will let them have a conversation with it and gather information. In March 2024, Tether announced that it would be expanding its focus on AI. In an official statement released at the time, the company said, "Firstly, Tether data plans to pioneer the development of open-source, multimodal AI models to set new industry standards. It will also lead collaborations to integrate AI solutions into market-driven products to address real-world challenges. Lastly, actively engaging with the broader ecosystem through community contributions, Tether data seeks to advance the field of open AI." Tether announced a strategic investment into a European AI and cloud computing firm, Northern Data, in the US. The company has been looking for 'top-tier' talent to contribute to its AI initiatives for its Tether Data initiative from around the world, including India. Now headquartered in El Salvador, Tether was established in 2014. Its USDT stablecoin is pegged against the US dollar. On the CoinMarketCap index, Tether ranks third in terms of market valuation and its current market cap stands at over $141 billion (roughly Rs. 12,36,733 crore)
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Tether is building AI apps and an open-source SDK platform
The world's largest stablecoin issuer, Tether, is venturing deeper into artificial intelligence with a number of AI applications in development, according to the firm's chief executive. Tether's AI division, Tether Data, is developing a number of AI apps, such as AI Translate, AI Voice Assistant, and AI Bitcoin Wallet Assistant, according to a Feb. 4 announcement from CEO Paolo Ardoino. "Tether will soon launch its own AI SDK [software development kit] platform, open-source, built upon Bare, working on every hardware, from embedded devices, any mobile phone, any laptop, powerful servers, clusters of servers," he added. Further details were thin but Ardoino said that Tether Data's apps "will focus on working locally on any device, full privacy, self-custodial for both data and money." In the demo for the AI Bitcoin Wallet Assistant, a user asked the "Payment Agent" what their BTC wallet address was before querying about the BTC balance. The demo also showed the user asking what recipients they had in their address book before requesting the agent send a small amount of BTC to one of them. The entire process was conducted through the AI chatbot interface and carried out autonomously. Tether's AI Translate was a simple AI chatbot translation tool and AI Voice Assistant involved the chatbot responding to voice inputs rather than text. Tether's AI ambitions were evident back in 2023 when the firm acquired a stake in European crypto miner Northern Data Group, which specializes in cloud computing and generative AI. In March, Tether further expanded its AI operations with a global recruitment drive for top-tier talent, telling Cointelegraph at the time that it "plans to push the boundaries of AI technology," and set "new industry standards for innovation and utility." In December, Ardoino said he "just got the draft of the site for Tether's AI platform," before adding that the firm was targeting a launch at the end of Q1, 2025. Related: Crypto AI agents see 'remarkable traction' but value still unclear: Sygnum On Jan. 31, Tether announced record-breaking profits of $13 billion in 2024 and revealed having a larger-than-ever stockpile of US government bonds. Tether's US Treasury portfolio is now worth approximately $113 billion, it stated. Meanwhile, its stablecoin
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Tether, the leading stablecoin issuer, is expanding into AI with a new suite of products called Tether Data. The company's CEO has teased an AI-powered Bitcoin wallet assistant and other AI applications, signaling a significant move into the AI space.
Tether, the world's largest stablecoin issuer, is making significant strides in the artificial intelligence (AI) sector with its newly announced suite of AI products called Tether Data. CEO Paolo Ardoino has teased several AI-powered tools, including a Bitcoin wallet assistant, showcasing the company's commitment to integrating AI into its offerings 12.
The centerpiece of Tether's AI initiative is an AI-powered Bitcoin wallet assistant. This innovative tool allows users to interact with an AI chatbot to access account information, check balances, and even initiate transactions. Ardoino demonstrated the functionality in a 48-second clip on social media, where a user could fetch their Bitcoin wallet address, check their balance, and transfer tokens to a saved contact, all through natural language queries 1.
Tether Data's AI suite extends beyond the Bitcoin wallet assistant. The company is developing several other AI applications:
Ardoino emphasized that Tether Data's apps will prioritize user privacy and data security. The applications are being developed to work locally on devices, ensuring "full privacy" and "self-custodial" control for both data and money. The company aims to make these tools accessible across a wide range of devices, from high-end mobiles to budget-friendly alternatives 12.
Tether's foray into AI began in March 2023 when the company announced its expansion into the field. The initiative includes:
To support these efforts, Tether made a strategic investment in Northern Data, a European AI and cloud computing firm 12.
Tether is actively recruiting top-tier talent globally, including from India, to contribute to its AI initiatives 1. The company is targeting a launch of its AI platform by the end of Q1, 2025, according to Ardoino 2.
While venturing into AI, Tether continues to strengthen its position in the cryptocurrency market. The company recently announced record-breaking profits of $13 billion in 2024 and revealed a substantial US Treasury portfolio worth approximately $113 billion 2. Tether's USDT stablecoin maintains its position as the third-largest cryptocurrency by market capitalization, with a value exceeding $141 billion 1.
As Tether expands its focus beyond stablecoins, its move into AI represents a significant shift in the company's strategy, potentially influencing the intersection of cryptocurrency and artificial intelligence technologies.
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Tether, the company behind the USDT stablecoin, announces Tether AI, an open-source artificial intelligence platform that will support Bitcoin and USDT payments. The platform aims to merge cryptocurrency with AI technology through decentralized applications.
5 Sources
5 Sources
Tether, the leading stablecoin issuer, announces plans to launch an AI platform in Q1 2025 while projecting $10 billion in profits for 2024. The company is expanding its investments and considering growth in the US market.
2 Sources
2 Sources
Tether introduces an open-source Wallet Development Kit (WDK) for creating self-custody wallets, designed for both human users and AI entities. The toolkit aims to provide financial autonomy and supports Bitcoin and USDT across various platforms.
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2 Sources
Coinbase introduces 'Based Agent', a tool allowing users to create AI agents with crypto wallets in minutes, signaling a significant step towards integrating AI and blockchain technology.
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4 Sources
AI agents like Truth Terminal are emerging as powerful influencers in the crypto market, sparking debates about autonomous financial actors and the potential for market manipulation.
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