Gate News message, April 16 — Tether Investments participated in a $134 million private placement for Stablecoin Development Corporation (SDEV) on April 15, alongside R01 Fund LP and Framework Ventures. SDEV is a publicly listed company (NYSE: SDEV) whose primary asset comprises 2.15 billion SKY governance tokens, representing 9.15% of Sky Protocol’s total token supply.
Sky Protocol, formerly known as MakerDAO, operates the USDS stablecoin within the decentralized finance ecosystem. The investment grants SDEV and its stakeholders influence over protocol governance and direct exposure to stablecoin infrastructure at the protocol level.
Tether CEO Paolo Ardoino stated that “making infrastructure more reliable is important,” signaling the company’s expansion beyond USDT issuance into broader ecosystem investments. SDEV plans to deploy the capital toward expanding infrastructure supporting stablecoin payments, transfers, and cross-platform financial systems. Framework Ventures, a venture firm focused on decentralized finance, also participated in the round, adding institutional backing from the crypto sector.
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