Tether is preparing to launch a cryptocurrency wallet app that supports only four core assets
The world's largest stablecoin issuer Tether is planning to launch a self-custody mobile wallet and has revealed that it is recruiting engineering talent to expand the company's business scope from backend stablecoin infrastructure provider to end consumer market.
Tether CEO Paolo Ardoino revealed on December 20 that the cryptocurrency wallet will only support four specific assets:
Bitcoin ($BTC) transmitted through the Lightning Network
Tether's main product, the Tether coin ($USDT) is pegged 1:1 to the US dollar
Tether Gold ($XAUT), pegged 1:1 to gold.
Tether's newly launched stablecoin $USAT aimed at the US compliant market.
This crypto wallet application will be designed as 100% self-custodial, and the supported currencies indicate that this wallet is different from general wallets that support thousands of speculative tokens. Tether ignores the broader decentralized finance (DeFi) market, instead wanting to create a wallet focused purely on payment and value storage functionalities.
Image source: X. Tether is preparing to launch a crypto wallet app, supporting only four core assets.
Tether's crypto wallet combines dual technologies to create a local AI financial assistant.
Ardoino also revealed that Tether's crypto wallet will use two technologies: the Wallet Development Kit (WDK) and the QVAC computation platform.
Although WDK is responsible for handling non-custodial financial frameworks, the integration of QVAC (Tether's local AI computation platform) is the key differentiating factor. Ardoino envisioned a local private AI integration that allows users to run advanced automation tasks directly on personal devices.
By processing data locally through QVAC instead of routing it to the cloud, Tether provides financial assistant services with AI capabilities.
This design aims to avoid the common privacy trade-off issues seen in traditional large tech platforms, ensuring that users can enjoy the conveniences brought by AI without sacrificing their personal data privacy.
Image source: X. Tether's crypto wallet combines dual technologies to create a local AI financial assistant.
Tether invests in Lightning Network firms and also launches a password manager.
In addition to wallet development, Tether is also actively expanding external investments.
Tether recently announced its co-leading investment in payment processor Speed with Ego Death Capital, assisting the company in completing a $8 million financing. Speed primarily utilizes the Bitcoin Lightning Network to establish settlement channels, and its annual payment processing volume has already exceeded $1.5 billion.
Image source: Tether press release. Tether recently announced its co-leading investment in payment processor Speed with Ego Death Capital.
In addition, Tether announced last week the launch of its new password management tool PearPass, with the core design concept being to eliminate single points of failure in the cloud.
The official emphasized that all password data for PearPass will only be stored on users' personal devices and will not be uploaded to any cloud servers, responding to the recent frequent incidents of cloud data leaks and implementing a decentralized data security concept.
Further reading:
Tether's password management tool is here! PearPass adopts a decentralized design to eliminate cloud leak risks.
Not just a stablecoin issuer, Tether aims to vertically integrate the crypto ecosystem.
Through the aforementioned product lines, Tether is also expected to vertically stack its technology: controlling wallet interfaces, underlying stablecoins (USDT and USAT), a security layer established through PearPass, and an intelligence layer operated through QVAC.
Such a structure not only reduces Tether's dependence on third-party platforms but also hopes to strengthen its operational autonomy.
From stablecoin issuers to investments in crypto wallets, password management tools, and the Bitcoin Lightning Network, Tether's ambitions clearly extend beyond merely maintaining its leading position in stablecoins, aiming to touch upon the entire crypto supply and consumption ecosystem.
'Tether will launch a crypto wallet app! Integrating a local AI assistant, supporting only Bitcoin and three stablecoins.' This article was first published in 'Crypto City'.
