Key Notes
- Following the announcement, the JUV fan token rallied over 100 percent in the last 24 hours to trade about $2.2 at the time of this writing.
- Tether’s investment in Juventus will help it achieve regulatory clarity in the near future.
Tether Limited, a leading stablecoin issuer based in El Salvador, has announced a strategic acquisition of a minority stake in Juventus Football Club. The strategic investment in Juventus will enable Tether to further its long-term mission of democratizing the adoption of stablecoins, and digital assets.
Furthermore, USDT has grown to a market cap of over $140 billion and more than 400 million users across different markets. Tether has also invested heavily in artificial intelligence (AI), the Bitcoin BTC $96 304 24h volatility: 1.2% Market cap: $1.91 T Vol. 24h: $16.85 B market, and the biotech industry, among others.
The strategic investments in Juventus will give the company legal rights to integrate its crypto products into the club’s operations. To enable seamless integration, Tether announced a strategic partnership with Juan Sartori, a renowned figure at Sunderland FC and AS Monaco Football Club, and the European Club Association.
“Aligned with our strategic investment in Juve, Tether will be a pioneer in merging new technologies, such as digital assets, AI, and biotech, with the well-established sports industry to drive change globally. We will explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape,” Paolo Ardoino, CEO of Tether, noted .
Previously, Tether in collaboration with Plab ₿ and the city of Lugano announced an exclusive kit sponsorship of FC Lugano, a Swiss football club with a historical performance.
Market Impact of Juventus Investment by Tether
Following the strategic investment by Tether in Juventus, the club’s fan token JUV rallied over 100 percent to trace about $2.2 on Friday during the mid-New York session. The small-cap altcoin, with a fully diluted valuation of about $43 million, based on the Chiliz CHZ $0.0601 24h volatility: 1.8% Market cap: $565.43 M Vol. 24h: $57.42 M network registered a notable growth in daily traded volume to around $89 million.
The much-needed support from Tether will help [NC] regain bullish sentiment amid the highly anticipated altseason. Furthermore, Tether will enhance the liquidity in Juventus in the long haul through its well-established stablecoins.
Meanwhile, Tether’s USDT is well positioned to stamp its global dominance through Juventus in the long haul. Furthermore, the mainstream adoption of digital assets has also increased the competition for stablecoins.
Bigger Picture
Since the implementation of the Markets in Crypto-assets (MiCA) regulatory framework across Europe earlier this year, Tether has experienced a mix of concerns over its future in the block. Furthermore, Tether has not explicitly stated its compliance with MiCa.
However, the strategic acquisition of a minority stake in Juventus will enable the company to further venture into European markets. Tether’s Ardoino has dismissed the claims that USDT is illegal in the EU, despite crypto exchanges delisting the stablecoin.
next“CASPs can freely continue offering their services in relation to USDT, pyUSD, FDUSD, and all other ARTs and EMTs which do not require authorization under MiCA, but will be a very important source of liquidity for CASPs’ operations in the European market,” Jonathan Galea noted .
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