Tether Expands Investment into Italy’s Media Landscape with Be Water
Stablecoin issuer Tether is making waves beyond financial technology with a recent €10 million investment into Be Water, an Italian media firm. This move will see Tether securing a 30.4% equity stake in the company by the end of the month.
Accelerating International Expansion
Be Water is known for producing and distributing film, television, audio, and live content. Tether’s investment is aimed at speeding up the company’s international expansion efforts while bolstering its digital infrastructure through blockchain and advanced technology tools.
Enhancing Content Distribution
The collaboration between Tether and Be Water is expected to enhance the company’s ability to distribute independent content across various global platforms, opening up new opportunities for both parties.
The Importance of Independent Media
Tether CEO Paolo Ardoino emphasized the significance of maintaining editorial independence in media. He mentioned that the investment in Be Water would safeguard the company from succumbing to commercial pressures and ensure its creative freedom remains intact.
Ownership and Leadership Changes
Despite the focus on independence, the investment has led to changes in Be Water’s ownership structure. Notable figures on the updated shareholder list include Guido Maria Brera, Giancarlo Devasini, and Paolo Ardoino from Tether, alongside industry professionals like Mario Calabresi, Roberto Condulmari, Saverio Costanzo, and Barbara Salabè.
The company’s board will also see transformations, with Brera appointed as Chairman and Salabè as CEO. Other board members include Claudia Lagorio, Tether’s COO, and Sabrina Giovannetti, Be Water’s CFO.
Development Plans and Partnerships
Be Water is rolling out a comprehensive development plan, focusing on investing in next-gen digital infrastructure, expanding investigative journalism arms, and collaborating with international film, TV, and documentary production talent to elevate its offerings.
USDT Milestone: Reaching 400 Million Users
While Tether diversifies its investments, the core business of the firm remains robust. Paolo Ardoino highlighted that USDT stablecoin recently surpassed 400 million users globally, solidifying its position as the largest stablecoin with a market cap exceeding $140 billion.
He praised USDT as a grassroots solution that bridges financial gaps where traditional systems fall short, emphasizing the company’s commitment to ground-level adoption.
