The stablecoin issuer Tether, based in Salt Lake City, Utah, has recently invested $200 million in Blackrock Neurotech, a competitor to Neuralink, in order to advance brain-computer interface (BCI) technology. Blackrock Neurotech is a company focused on neural implants, which is similar to the company owned by Elon Musk, Neuralink.

This investment announcement was made today, April 29, by Tether Evo, the venture branch of Tether. The move has surprised many in the cryptocurrency industry, as Tether has been expanding its product offerings into different sectors like data, education, and power.

The strategic investment aims to support Blackrock Neurotech, a leader in neurology, neural engineering, and neural prosthetics. The company was founded in 2008 by experts Dr. Florian Solzbacher and Marcus Gerhardt and is dedicated to improving the lives of individuals worldwide suffering from paralysis, neurological disorders, or impaired physiological functions that affect their mobility.

Tether's investment in Blackrock Neurotech underscores its commitment to diversifying its services. Tether recently announced plans to broaden its services beyond stablecoins to include infrastructure solutions.