Tether Eyes Greater Stake in Juventus Amid Stablecoin Surge

Tether, a major cryptocurrency firm, is open to expanding its investment in Juventus, holding a 5% stake currently. CEO Paolo Ardoino emphasized cooperation without aggression to unlock potential. While Exor holds a 64% stake, Tether explores using its platform to boost Juventus' brand globally.

Tether, a leading cryptocurrency company, is considering all possibilities to increase its investment in Juventus, the prestigious Italian Serie A soccer club. Currently holding a 5% stake, Tether's CEO Paolo Ardoino stated on Tuesday that the firm has the financial strength for further investment.

Ardoino, a Juventus supporter himself, conveyed Tether's openness to dialogue with Juventus' owners to explore potential developments. The firm aims to harness its payment platform and extensive user base to enhance the club's brand in emerging markets, signaling a cooperative stance.

Despite Exor's 64% stake and denial of selling plans, Tether's entry into Juventus aligns with its market presence as a significant force in stablecoin markets. This move comes amid ongoing regulatory concerns about the implications of stablecoins on the financial system.

(With inputs from agencies.)