Tether Acquires Stake in Argentine Agribusiness Firm Adecoagro
CryptoNewsTerminal Staff08 Sep, 2024
Tether Acquires Stake in Argentine Agribusiness Firm Adecoagro
Tether's Strategic Investment in Adecoagro Tether, the issuer of the leading stablecoin USDT, has made a significant investment in Adecoagro, a prominent South American agribusiness company. Over a three-week period, Tether acquired shares worth $102 million, securing a 9.8% stake and becoming the third-largest shareholder in the firm. Adecoagro, headquartered in Argentina, is a major player in the rice industry and holds a market capitalization of approximately $1.2 billion. This strategic investment aligns with Tether's broader interest in diversifying its portfolio and exploring new opportunities within the agribusiness sector. It also highlights the growing interest from the cryptocurrency industry in real-world assets.
