Tether says it will soon launch its own open source AI platform that supports multiple devices.
Details on the launch date of Tether's AI services are unclear for now
Photo Credit: Reuters
Tether CEO Paolo Ardonio has teased the arrival of an upcoming Bitcoin wallet product, which is currently in development at the firm. This Bitcoin wallet assistant is said to be powered by artificial intelligence (AI), and will let users see chat with an AI assistant to see details about their account balances, wallet address and other similar information. This service will be part of ‘Tether Data', which is the name of the newly unveiled suite of AI products that the crypto firm is working on.
As part of the Tether Data suite of AI products, Tether, the issuer of the USDT stablecoin is gearing up to launch multiple products. These include an AI translate product, an AI voice assistant, as well as this AI Bitcoin wallet assistant.
According to Ardonio, these products are being developed to work on an range of devices, ranging from high-end mobiles to computers as well as their budget-friendly alternatives.
The CEO of Tether shared a 48-second-long clip of the AI Bitcoin wallet assistant on X. The demonstration of the 'Tether Payment Agent' showed a user fetching their Bitcoin wallet address by typing out a query.
Next, the video shows the user asking the AI assistant to check their Bitcoin balance and transfer some tokens to the wallet address of a saved contact. Once the transaction was processed, the Tether Payment Agent notifies the user and shares the transaction ID.
Once this service is initialised on a device, it asks the user to “Assign the agent a task, for example, ask the agent to summarise all your latest transactions.” The green and black interface of the service shows the options for users to revisit their latest tasks or start a new conversation.
Along with the Tether Payment Agent, Ardonio also shared short clips of the AI translate and AI voice assistant that are also under development. While the translation service will allow users to access text, audio, or videos into different languages in real time, the AI assistant will let them have a conversation with it and gather information.
In March 2024, Tether announced that it would be expanding its focus on AI. In an official statement released at the time, the company said, “Firstly, Tether data plans to pioneer the development of open-source, multimodal AI models to set new industry standards. It will also lead collaborations to integrate AI solutions into market-driven products to address real-world challenges. Lastly, actively engaging with the broader ecosystem through community contributions, Tether data seeks to advance the field of open AI.”
Tether announced a strategic investment into a European AI and cloud computing firm, Northern Data, in the US.
The company has been looking for ‘top-tier' talent to contribute to its AI initiatives for its Tether Data initiative from around the world, including India.
Now headquartered in El Salvador, Tether was established in 2014. Its USDT stablecoin is pegged against the US dollar. On the CoinMarketCap index, Tether ranks third in terms of market valuation and its current market cap stands at over $141 billion (roughly Rs. 12,36,733 crore)
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