Tether, the issuer of the world’s largest stablecoin, is preparing a major capital raise that could value the company at around $500 billion, CEO Paolo Ardoino has confirmed. This would place Tether alongside private tech giants like OpenAI and SpaceX.
Sources told Bloomberg that the El Salvador-based firm aims to raise $15 billion to $20 billion by selling about 3% equity in a private placement. Ardoino confirmed on X that Tether is “evaluating a raise from a selected group of high-profile key investors,” with funds intended to significantly expand its activities in stablecoins, AI, commodities trading, energy, communications, and media.
The investment is expected to come from newly issued shares rather than existing shareholders selling their stakes. The deal is still in early stages, so final terms could change.
If completed, the valuation would place Tether among the highest valued private companies, comparable to OpenAI’s $300 billion valuation from this year. The firm is also working on a U.S. comeback, appointing a CEO for its American business and establishing USAT, a regulated entity under the GENIUS Act.
Tether’s USD Tether (USDT) stablecoin remains the largest by market cap at over $172 billion, far ahead of rival Circle’s USDC, which stands at about $74 billion. The fundraising reflects Tether’s ambitions to diversify beyond stablecoins into sectors like AI and energy, aiming to compete in the fast-moving digital economy.