Tether, the issuer behind the nearly $ 150 billion USDT stableecoin, has completed the acquisition of a 70% share in Latin American Agricultural Company Adecoagro (Agro), which has a market capital of almost a billion dollars.
Tether initially invested $ 100 million in Adecoagro in September 2024 for a 9.8% share, then offered to increase it to 51% in February and eventually raised it to control 70% in March.
Read more: Tether’s $ 100 MIO
This majority share provides Tether Control of one of the region’s most prominent food and bioenergy producers. Adecoagro owns Sugar Mills, Rice Farms, Dairy Processes and Assets in Renewable Energy over Brazil, Argentina and Uruguay.
Tether said it is aiming to help scale Adecoagro’s output, while the company adapts to its mission to promote “financial freedom” through decentralized funding and investment in underrated markets.
The relocation can be part of Tether’s ambition to tokenize assets in the real world as it launched its active tagging service Hadron last year. The platform was designed to simplify the process of converting a wide range of assets in the real world, including bonds, raw materials, stocks, other stableecoin and loyalty points in digital tokens on blockchain rails.
Read more: Tether reveals a new platform to simplify active docking for businesses, nation states
“By adapting to Adecoagros proved expertise in agriculture and renewable energy, we take another concrete step towards bridging traditional industries with the future of decentralized funding and financial empowerment,” said Paolo Ardoino, CEO of Tether.
Following the agreement, Adecoagro’s board of directors was also switched off. Five members stepped down and were replaced by leaders tied to Tether and its strategic goals. Juan Sartori, a Uruguayan businessman with political and agricultural interests, took over as chairman.
In the past year, Tether has launched Ventures in Bitcoin Mining, AI and encrypted communication. Agro’s stocks rose 2.6% on Wednesday.
Read more: Tether’s $ 100 MIO
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