Tether Launches 3 New AI Tools Despite Difficulties
Tether is planning to expand its portfolio by launching artificial intelligence-enabled products. CEO Paolo Ardoino provided details on Tetherdata, outlining the artificial intelligence products currently under development.The cryptocurrency sector is currently facing a downturn. According to CoinGecko, the sector is down almost 9.1% in the last 24 hours and the market cap is currently $29 billion. Not only that, the AI token sector is also taking the hit and is down 9.8%. Tether's news comes at a time when these sectors are suffering a setback.Tether Advances with AI SectorPaolo shared the news on X (formerly Twitter), posting three clips of applications currently under development. The videos show three products: an AI translator, an AI-based voice assistant, and a Bitcoin wallet assistant with AI support.Ardoino said:"Tether Data's applications will focus on running locally on any device, providing full privacy and self-custodial control over both data and money."Tether Data, preview of some of the AI apps we're developing: AI translate, AI voice assistant, AI bitcoin wallet assistant.Tether will launch soon its own AI SDK platform, open-source, built upon Bare (Holepunch's javascript runtime), working on every hardware, from embedded... pic.twitter.com/W5JFmoVcnh- Paolo Ardoino 🤖🍐 (@paoloardoino) February 4, 2025 XThe applications under development will feature cross-functional features. All three products will have self-care features, ensuring data security and privacy.The clips shared by the CEO offer a detailed overview of the applications. The AI voice assistant will allow users to send voice messages and receive answers to their questions.Another video showed the functioning of the AI translator, capable of translating texts in several languages, including English, German, Spanish, Portuguese, Swedish, Polish, and Turkish.Finally, the company presented the new AI wallet agent. This tool improves the self-customised management of digital assets, offering enhanced security and performance. The application will help users in various tasks, such as finding the BTC address, checking the Bitcoin balance and locating a recipient's name in the address book. The AI agent will also allow Bitcoin to be transferred easily and instantly via the same interface.In addition to these AI applications, Paul announced that the company is planning to launch its own Open-Source AI SDK platform. This platform will be developed on Holepunch's JavaScript Bare runtime.The software development kit will support a wide range of devices, including embedded devices, smartphones, laptops, and smart server clusters.In December 2024, Ardoino had stated in a post:"Just received the draft site for Tether's AI platform. Coming soon, with launch planned for late Q1 2025."The development of these three products is a follow-up to the 2024 post.Despite these new initiatives, Tether's main source of revenue remains the USDT stablecoin. According to the latest Q4 reports, the company reported $13 billion in annual profits and currently holds $113 billion in US Treasury securities.Currently, Tether continues to dominate the crypto market with USDT. The token's market capitalisation is $140.5 billion, making it the fourth largest cryptocurrency in the world.