Tether supports $134 million financing to lay out stablecoin infrastructure and the SKY ecosystem
By: rootdata|2026/04/15 23:03:03
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Tether announced support for the $134 million private placement financing completed by the publicly listed company Stablecoin Development Corporation (SDEV), which is primarily used to increase holdings of SKY tokens.
SDEV is positioned as an investment vehicle for stablecoins aimed at traditional market investors, currently holding approximately 2.15 billion SKY, accounting for about 9.15% of the total supply, and building ecological exposure around the Sky Protocol and its stablecoin USDS. The company stated that its core goal is to promote the application of stablecoins and DeFi in real-world scenarios and to lower the user entry threshold. Tether CEO Paolo Ardoino pointed out that the next phase of growth for stablecoins will depend on "availability and the level of infrastructure development," shifting the focus from trading scenarios to everyday payments and practical applications.
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