Tether Expands Investment Portfolio: Part Of $16 Million Round Into Transak And Northern Data Stake Exchange

Tether has recently made significant strides in diversifying its investment portfolio by co-leading a $16 million funding round for Transak, as well as exchanging its stake in a Northern Data acquisition deal to another venture in its portfolio and close industry ally, Rumble.

Transak is one of the early on-ramp platforms facilitating users to transfer the fiat balance via traditional payment methods onto CEXs (centralized exchanges), such as Binance and Coinbase. IDG Capital co-led, and other venture firms participated, including 1KX, Protein Capital and others participated in the round.

Supporting the funding round into the Web3 payment infrastructure provider, allows Tether to enjoy a softer integration into the UK and European regulatory landscape with Transak's list of licenses, such as with the FCA and VASP, and growing customer base from around the world.

In addition to its investment in Transak, Tether is also set to officially become the largest shareholder in Rumble, a competitor to Youtube and Twitch, by transferring its existing stake in Northern Data. The cloud and data centre company will be acquired by Rumble as a great contender for its plans to support AI products and diversification into emerging technology, according to CEO Chris Pavlovski.

The exact details on the swap appear to offer 2.3 Rumble shares for every Northern Data share, making Tether's majority stake of 54% a majority stake in the video-sharing platform. Tether's continued investment thesis into alternative sectors with rising demand and potential is expected to net the company even higher profits than gained from its stablecoin issuance activities alone.

Note: This is intended for informational purposes only and does not in any way constitute or solicit financial, professional, or legal advice. Readers are reminded to carefully conduct their own due diligence at all times.

This article has been partly researched and aggregated with the help of AI and does not pertain to be an exclusive story. For specific media and public information referenced, please locate it below.

Source(s): https://www.techinasia.com/news/tether-coleads-16m-web3-payment-firm-transak

https://cryptoslate.com/tether-shifts-northern-data-stake-to-rumble-in-ai-cloud-mega-deal/