Tether, the firm behind the world's largest stablecoin USDT, has purchased a minority stake in the Italian football team Juventus Football Club, or Juve.
The move aligns with Tether's broader goal of integrating digital assets and stablecoins "into every day life," according to a Friday company release.
"Aligned with our strategic investment in Juve, Tether will be a pioneer in merging new technologies, such as digital assets, AI and biotech, with the well-established sports industry to drive change globally," Tether CEO Paolo Ardoino said in a statement. "We will explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape."
Juve is an Italian football team with partnerships including the sportswear giant Adidas, insurance firm Allianz and the European crypto investment platform zondacrypto, according to Juve's website.
Aside from Tether's stablecoin comprising over half the USD-pegged Ethereum stablecoin market supply, the firm itself noted $13 billion in net profits in 2024, The Block previously reported.
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