HomeNEWSTether, Bitfinex collaborates to support data privacy and security solution

Tether, Bitfinex collaborates to support data privacy and security solution


Follow us


Tether has collaborated with Bitfinex to provide a public grant to support the open-source development of Qubes OS. In that regard, the two partners provided a grant worth of 100,000 USDT towards the project in a bid to enhance data security and privacy in the blockchain industry. More so, Tether established that the fund will further complement the efforts of projects that prioritize the development of secure and decentralized technologies. 

Tether, the firm behind the largest stablecoin by market capitalization, USDT made the revelation known today via a blog post. According to the announcement, the partners, by their contribution to Qubes OS, intend to enhance the development of innovations that’ll aid individuals to protect their virtual assets and personal details. 

Furthermore, Tether in the announcement described Qubes OS as an open-source project with a robust security architecture and innovative approach to protecting user privacy. The stablecoin issuers added that the protocol leverages Xen-based virtualization. The protocol has the capacity to isolate various tasks and applications using different virtual machines known as “qubes.” With the qubes, the protocol enjoys a high level of security that exceeds traditional operating structure.

Growing efforts Tether towards the advancement of the blockchain sphere 

The collaboration came on the heels of Tether’s investment in energy production and sustainable mining of Bitcoin in Uruguay. On May 30, 2023, Binbits reported that the development surfaced after the company obtained a license in the country. More so, the investment highlighted the commitment of Tether to encourage climate-friendly mining operations in the country. Likewise, with that, the stablecoin issuer intends to push for the global adoption of blockchain innovations.

Meanwhile, in a similar version, the recent collaboration with Bitfinex is aimed at advancing the blockchain sphere by enhancing data security. Additionally, the Chief Technology Officer (CTO) of Tether and Bitfinex, Paolo Ardoino, through his submission echoed the opinion. According to the CTO, the investment will foster open-source initiatives that will drive innovation and aid individuals to control their virtual lives. Paolo Ardiono disclosed that the two partners recognize the importance of privacy and security in the virtual age. The CTO added that the investment in Qubes OS will facilitate the advancement of the blockchain space.

Also, the Qubes OS team illuminated the importance of the grant. The team emphasized that the funds will aid the growth of its operating system. Lastly, the team added that the support of Tether and Bitfinex will ensure that Qubes OS retains its position as a safe platform for users. 

Read More: 

David Idowu
David Idowu
David Idowu is a crypto reporter and trader with wealthy years of experience. He believes that blockchain technology has numerous opportunities that are begging for proper utilization. Away from work, David is either reading about World Politics, History or Tech Innovations.

Most Popular