Bloomberg
Tether has successfully acquired SoftBank Group Inc.'s ownership interest in the digital-asset treasury company Twenty One Capital Inc., thereby augmenting its influence over the firm which specializes in managing bitcoin assets for corporate and institutional clients.
The buyout of SoftBank's approximately 26% stake, assessed at around $679 million, elevates Tether's overall ownership to approximately 71%. This transaction represents a notable consolidation within the bitcoin treasury management sector, highlighting the increasing institutional appetite for professional custodial services related to digital assets.
Twenty One Capital offers treasury management solutions tailored for corporations and institutions that aim to integrate bitcoin and other digital assets into their financial portfolios. The firm has gained prominence as numerous major corporations and financial institutions reconsider cryptocurrency investments as a component of their asset allocation strategies.
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