Key Points
- Tether has granted $100,000 to the BTCPay Server Foundation to support open-source software.
- The BTCPay Server Foundation’s open-source payment processor software is used globally for Bitcoin and USDT transactions.
Tether has recently made a significant contribution to the open-source software movement. The company has granted $100,000 to the BTCPay Server Foundation.
Supporting Open-Source Software
The BTCPay Server Foundation is known for its open-source payment processor software. It’s used by many merchants and businesses worldwide to enable transactions with Bitcoin and USDT.
Tether’s CEO, Paolo Ardoino, stated that the grant is a demonstration of the company’s firm commitment to promoting the growth of open-source technology. He expressed Tether’s belief in the transformative power of technology and its dedication to the open-source community.
Championing Financial Privacy and Freedom
The BTCPay Server Foundation, a strong advocate for financial privacy and freedom, has welcomed Tether’s support. This grant will enhance the foundation’s ability to innovate and expand, aligning with its mission to offer a secure, private, and censorship-resistant platform for payment processing.
Rockstar Dev, a Core Contributor and founding member of BTCPay Server, expressed gratitude for Tether’s recognition of the project’s importance. The developer stated that the grant allows them to focus on their mission of enabling anyone to accept Bitcoin without geographic, political, or financial barriers.
In addition to the grant, Tether achieved a milestone with its USDT stablecoin exceeding $100 billion in circulation. This was driven by the increased demand for Bitcoin. Despite a slight adjustment and a brief value surpassing $1, Tether’s reserves grew to $97 billion in December, primarily held in short-term U.S. Treasury bills.
