Tether invests $2 million in Arcanum Capital's tokenized investment vehicle
According to online reports, stablecoin issuer Tether has invested US$2 million in Arcanum Capital's Arcanum Emerging Technologies Fund II, a tokenized investment vehicle specializing in decentralized Web3 projects. James McDowall, managing partner at Arcanum Capital, said the fund invests in blockchain technology to enhance remittances, cross-border payments, privacy and providing banking services to unbanked people. Tether CEO Paolo Ardoino said resisting censorship and promoting open communication are the main goals of Tether and the fund.
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