TechFlow news, December 27 — According to Cointelegraph, stablecoin issuer Tether has made its first-ever cryptocurrency venture investment by allocating $2 million to Arcanum Capital’s Arcanum Emerging Technologies Fund II, a tokenized investment vehicle dedicated to decentralized Web3 projects.
James McDowall, Managing Partner at Arcanum Capital, said the fund invests in blockchain technologies that enhance remittances, cross-border payments, privacy protection, and banking services for the unbanked.
Tether CEO Paolo Ardoino stated that censorship resistance and promoting open communication are key goals shared by Tether and the fund, adding, “Diversification has become a priority for Tether.”
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