Tether supported SDEV's $134 million funding round to develop stablecoin infrastructure and the SKY ecosystem.

Tether announced its support for a $134 million private funding round recently completed by publicly traded company Stablecoin Development Corporation (SDEV). The funds will primarily be used to increase its holdings of SKY tokens. SDEV positions itself as an investment vehicle for stablecoins targeting traditional market investors. It currently holds approximately 2.15 billion SKY tokens, representing about 9.15% of the total supply, and is building ecosystem exposure around the Sky Protocol and its stablecoin USDS. The company stated that its core objective is to promote the application of stablecoins and DeFi in real-world scenarios and lower the barriers to entry for users. Tether CEO Paolo Ardoino pointed out that the next phase of growth for stablecoins will depend on "usability and infrastructure maturity," with a focus shifting from transaction scenarios to everyday payments and practical applications.