(Bloomberg) -- Tether, the issuer of the world’s largest stablecoin, has acquired SoftBank Group’s stake in Twenty One Capital (XXI), tightening its control over the firm which aims to become a publicly-listed, Bitcoin-native financial services company. The transaction was confirmed in a statement on Wednesday.
"SoftBank’s involvement gave XXI the kind of institutional depth that few early-stage companies ever have," said Paolo Ardoino, CEO of Tether. "Their experience backing some of the most consequential technology companies in the world brought credibility, perspective, and discipline to XXI during a critical period of formation."
Following the deal, SoftBank’s representatives have stepped down from the board of Twenty One Capital. The move consolidates Tether's influence and aligns with its strategy to build a premier listed company focused on integrating Bitcoin treasury, mining, lending, and other financial services into a single, capital-efficient platform. The company's strategy is focused on recurring revenue and accumulating bitcoin.
Tether's increased backing may accelerate Twenty One Capital's development and the broader integration of Bitcoin into mainstream financial markets. The consolidation of ownership under a major crypto-native entity like Tether signals a long-term strategic commitment to building infrastructure around Bitcoin, potentially reshaping market dynamics and investment approaches in the sector.
This article is for informational purposes only and does not constitute investment advice.
