Tether CEO Paolo Ardoino recently provided an overview of Tether Data, showcasing three artificial intelligence (AI) applications currently in development. As the issuer of the USDT stablecoin, Tether is expanding its technological portfolio with a focus on AI integration.
Tether’s foray into AI comes at a time when the AI crypto sector is experiencing a downturn.
Tether Reveals AI-Powered Applications
In a recent X post, Ardoino shared three clips showcasing the AI applications being developed: an AI translator, an AI voice assistant, and an AI-powered Bitcoin (BTC) wallet assistant.
“Tether Data’s apps will focus on working locally on any device, ensuring full privacy and self-custodial control over both data and money,” the post read.
The videos offered a glimpse into each app’s functionality. The AI translator enables users to translate text into multiple languages, including English (UK and US), Spanish, Portuguese, Italian, German, French, Swedish, Turkish, and Polish.
The AI voice assistant featured in the video allows users to send voice messages, which the assistant then responds to by answering questions.
Finally, the wallet AI payment agent enhances self-custodial digital asset management. It helps users with common inquiries such as checking their Bitcoin address, viewing their Bitcoin balance, or finding recipients’ names in address books.
Importantly, the AI agent can also help users execute Bitcoin transfers seamlessly through the same interface.
Beyond these AI applications, Ardoino shared that Tether is preparing to launch its own open-source AI SDK platform. The CEO explained that this platform will be built on Bare, Holepunch’s JavaScript runtime.
Furthermore, it will support many types of hardware. This includes embedded devices, budget smartphones, high-performance mobile phones, laptops, and powerful server clusters.
The development follows Ardoino’s previous announcement hinting at Tether’s venture into AI.
“Just got the draft of the site for Tether’s AI platform. Coming soon, targeting end Q1 2025,” Ardoino stated in a December 2024 post.
Despite this new AI initiative, Tether’s primary revenue driver remains its USDT stablecoin. According to its latest Q4 report, the stablecoin issuer recorded $13 billion in net yearly profits. That’s not all. It also holds $113 billion in US treasury assets.
Moreover, USDT continues to dominate the stablecoin market. It is also the fourth-largest cryptocurrency overall, with a market capitalization of $140.5 billion.
Meanwhile, Tether’s entry into AI comes amid a recent downturn in the AI crypto sector. According to CoinGecko data, the AI crypto market cap dipped 9.1% in the last 24 hours and is now at $29 billion.
AI agent-related tokens have been hit particularly hard, with the sector experiencing a 9.8% drop.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Read the full article here
