Major stablecoin issuer, Tether, invested 10 million euros ($10.8 million) in Italian media company Be Water.
According to a March 27 announcement, Tether acquired a 30.4% stake in Rome-based Media Water. Tether CEO Paolo Ardoino said the company recognized “the importance of independent media in shaping informed societies.”
“Our investment in Be Water aligns with our vision to support technology-driven innovation across industries,” Ardoino added.
Related: Tether seeks Big Four firm for its first full financial audit — Report
According to its LinkedIn page, Be Water is an Italian producer and distributor of films, documentaries and series that address modern social issues as well as journalism.
The company’s executive chairman, Guido Maria Brera, said that the firm’s objective is to be “capable of producing and distributing content across multiple platforms — podcasting, film, television and live events —