SoftBank Group and Ark Investment Management are reportedly exploring participation in a major funding round for Tether Holdings, the company behind the world’s largest stablecoin. The investment could value Tether at as much as $500 billion—placing it among the highest-valued private firms globally.
Sources familiar with the negotiations say the stablecoin issuer is seeking between $15 billion and $20 billion in exchange for roughly 3% of its shares. If successful, this would mark Tether’s largest-ever external fundraising effort, attracting interest from prominent financial backers.
Industry analysts suggest that securing heavyweight investors like SoftBank and Ark could strengthen Tether’s position as it aims for broader acceptance across global financial markets. The company has faced regulatory scrutiny, particularly in the United States, and is actively working to bolster its political and financial credibility.
Advising Tether in this effort is Cantor Fitzgerald, the New York-based investment bank led by Howard Lutnick, who also serves as U.S. Commerce Secretary. The firm plays a key role in safeguarding Tether’s reserves, which back its widely used USDT stablecoin.
Headquartered in El Salvador, Tether generates significant revenue by investing its reserves, largely in U.S. Treasuries and other cash-like assets. Its co-founder and chairman, Giancarlo Devasini, remains the largest shareholder. A $500 billion valuation would value his stake at nearly $224 billion, making him one of the wealthiest figures in the digital assets space.
SoftBank, led by Masayoshi Son, has a track record of high-stakes investments in sectors like artificial intelligence, semiconductors, and autonomous vehicles. Ark, founded by Cathie Wood, has prior exposure to the stablecoin market, having previously backed Circle Internet Group, the issuer of USDC. Currently, Tether dominates the market with $173.5 billion in tokens issued, compared with Circle’s $74 billion.
