Tether, issuer of the world’s largest stablecoin, is preparing a fundraising round that could value the company on par with global tech giants.
According to reports, the El Salvador-based firm is seeking between $15 billion and $20 billion for around a 3% equity stake through a private placement. CEO Paolo Ardoino confirmed on X that Tether is considering raising capital from a select group of high-profile investors.
The new funds would allow Tether to expand its strategy across multiple business lines, including stablecoins, artificial intelligence, commodity trading, energy, communications, and media. The raise would involve new equity rather than existing shareholders cashing out.
While discussions are still in early stages, the deal could push Tether’s valuation close to $500 billion, putting it on the same level as companies such as SpaceX and OpenAI, which was recently valued at $300 billion.
Tether’s flagship stablecoin, USDT, is pegged to the U.S. dollar and has a market cap exceeding $172 billion, making it the dominant player in the sector. Its closest competitor, Circle’s USDC, has a market cap of about $74 billion.
The company has also been working on strengthening its presence in the U.S., supported by the current administration’s crypto-friendly stance. Earlier this month, Tether launched a U.S.-regulated entity called USAT, under the GENIUS Act, to serve businesses and institutions.
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