SoftBank Group and Ark Investment Management are reportedly in early discussions to participate in a major funding round for Tether, the world’s largest stablecoin issuer, Bloomberg News reported Friday.
According to sources cited in the report, the two firms are among several high-profile investors considering backing Tether in what could become the company’s biggest fundraising effort to date.
Tether is seeking between $15 billion and $20 billion through a private placement for roughly a 3% stake. This deal could value the crypto company at up to $500 billion, Bloomberg reported earlier in the week.
Neither Ark nor Tether immediately responded to requests for comment. The company is being advised by Cantor Fitzgerald, a New York-based investment bank headed by U.S. Commerce Secretary Howard Lutnick.
Tether continues to dominate the stablecoin market by issuing tokens pegged to traditional fiat currencies, helping traders reduce volatility and move funds more easily between digital assets. Its USDT token currently has a market capitalization of about $173.47 billion, according to CoinGecko.
In addition to its leadership in stablecoins, Tether has been expanding investments into new sectors such as artificial intelligence, telecommunications, cloud computing, and real estate, further diversifying its portfolio beyond crypto.
