Tether Backs Ark Labs in $5.2M Round to Expand Stablecoins on Bitcoin

Tether’s investment arm has invested in Ark Labs, the developer of the programmable Bitcoin infrastructure Arkade, as part of a $5.2 million funding round. This investment aims to support infrastructure that allows stablecoins like USDT to be issued, transferred, and settled more efficiently on Bitcoin. Ark Labs, based in Lugano, Switzerland, is creating an execution layer for instant and programmable Bitcoin transactions, bringing its total funding to $7.7 million, with other investors including Sats Ventures and Contribution Capital. This move addresses the current gap where Bitcoin hosts minimal stablecoin volume compared to chains like Ethereum and Tron, as Arkade intends to enable developers to build complex applications, such as payments and financial services, on Bitcoin beyond its base layer capabilities. This funding follows Tether's recent investment in Eight Sleep and aligns with a growing trend of companies expanding financial infrastructure on Bitcoin.

(Source：Cointelegraph)