Tether, the largest stablecoin issuer by market capitalization, has made a strategic investment in Drift, a decentralized finance (DeFi) platform built on the Solana blockchain.
The move is seen as an attempt by Tether to expand its presence in the Solana ecosystem and increase its market share. Drift's platform offers various financial services, including lending and borrowing, which are expected to benefit from Tether's backing.