Stablecoin issuer Tether USDT/USD on Monday announced its first venture into the agricultural sector by acquiring a 9.8% stake in Adecoagro, a Latin American agricultural leader.

This investment expands Tether's portfolio, which previously included ventures in artificial intelligence, Bitcoin mining and digital education.

Adecoagro, founded in 2002, operates in Argentina's dairy industry and Brazil's sugar, ethanol and energy sectors.

Meanwhile, Tether continues to dominate the stablecoin market with a market capitalization exceeding $118 billion.

Recently, Tether announced the launch of a new stablecoin tied to the UAE dirham (AED), in collaboration with the Phoenix Group and Green Acorn Investments.

However, the stablecoin sector faces increasing competition with new entrants like PayPal's US dollar-pegged stablecoin and Ripple Labs' upcoming Ripple USD.

What’s Next: As the stablecoin market grows, with a record $168 billion market capitalization reached in August 2024, discussions on the future of digital assets are likely to intensify at Benzinga's Future of Digital Assets event on Nov. 19.

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