Tech investors SoftBank Group and Ark Investment are in talks to participate in a Tether fundraise that may value the stablecoin issuer at $500 billion. Tether plans to raise $15-20 billion, aiming for a 3% equity stake. This move could push Tether further into mainstream finance, placing it among the world’s largest private companies like OpenAI and SpaceX. Tether also plans to debut a new U.S. regulated stablecoin, USAT, by the end of the year. Softbank and Ark are both active players in the crypto space.

Tether’s USDT stablecoin currently holds a $173 billion market cap, ranking third in market cap among cryptocurrencies and surpassing Circle’s USDC. Stablecoins collectively have grown to nearly $300 billion in market cap, with projections to hit $750 billion by 2026. This growth has been fueled by increasing mainstream adoption and regulatory frameworks like the GENIUS Act.

Read more at Yahoo Finance: SoftBank, Ark May Back Stablecoin Giant Tether in Massive Funding Round: Report