Tether Backs $134M Raise to Boost Stablecoin Infrastructure

Tether Investments has announced participation in a $134 million financing round for Stablecoin Development Corporation, a publicly traded company offering public market access to the stablecoin economy and advancing digital asset infrastructure.

According to the official announcement, stablecoins have increasingly been used for sending money, settling transactions, and holding dollar value in digital form, and the overall stablecoin circulation now surpasses $300 billion.

The financing round was closed in January 2026 as a private placement, also including participation from R01 Fund LP, Framework Ventures, Sky Frontier Foundation, and other digital asset investors. The move underscored the growing institutional momentum behind stablecoin infrastructure as these digital dollars continue to reshape global finance. 

Stablecoin transaction volumes show their increasing dominance; in 2025, stablecoin transfers crossed $33 trillion, surpassing the combined volume of Visa and Mastercard. Tether’s USDT solely backs everyday financial activity for more than 570 million users over the globe. 

SDEV’s role 

Stablecoin Development Corporation, formerly known as NovaBay Pharmaceuticals before its rebrand and ticker change to SDEV in early April 2026, works as an on-chain holding company. It revolves around practical applications of stablecoins and decentralized finance. 

The firm aims at recognizing friction points in the ecosystem and providing solutions to reduce them, resulting in easing the user experience. By providing public market access to the economics of stablecoins, SDEV indicates an institutional bridge between traditional finance and the expanding stablecoin sector. 

Proceeds from the $134 million round have allowed SDEV to acquire a place in related digital assets, including more than 2 billion SKY tokens.

Growing stablecoin use cases

Tether CEO Paolo Ardoino shared his insights on the development, stating, “Stablecoins are already being used far beyond trading, especially in places where traditional systems don’t work well. What matters now is making that infrastructure more reliable and easier to use, so people can rely on it day to day. The next phase of adoption will be driven by systems that make digital assets practical and accessible for everyday use.”

Moreover, Michael Kazley, CEO and Chairman of SDEV, appreciated the partnership, stating, “Tether has played a foundational role in bringing stablecoins into real-world financial use on a global scale. We are proud to have their support as we build Stablecoin Development Corporation into a public-market platform aligned with the long-term growth of stablecoin infrastructure and utility.”

Launch of Tether.wallet

In the series of developments, the El Salvador-headquartered issuer USDT officially launched tether.wallet, its first self-custodial digital wallet targeted at retail users, on April 14. Tether mainly worked as the backend settlement layer for the digital asset economy, boosting liquidity, payments, and trading across over 160 countries. 

With tether.wallet, Tether is stepping into the competitive consumer wallet space, currently dominated by apps such as MetaMask, Trust Wallet, and Phantom.

What it means

The investment comes at a time of improving regulatory clarity in various jurisdictions, making the way for wider mainstream acceptance. SDEV’s public listing offers investors a regulated avenue to have exposure in the stablecoin sector.

As stablecoin usage expands quickly, initiatives such as SDEV could help bridge decentralized innovation with public markets. The participation of significant players indicates strong confidence that robust infrastructure will influence the next wave of financial inclusion and global efficiency. 

Also Read: ether.fi Commits $3B to ETHGas to Back ‘Realtime Ethereum’ Vision

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