SoftBank Group Corp. and Ark Investment Management LLC are among potential investors in a major funding round for Tether Holdings SA.
This could establish the stablecoin issuer as one of the largest private companies in the world.
Two tech financiers are in preliminary talks to provide capital to the world's largest stablecoin issuer in what would be Tether's largest external fundraising to date, according to a Bloomberg News report citing people familiar with the matter.
The funding round could value Tether at $500 billion, potentially placing it among the most valuable private companies in the world. Tether seeks to raise between $15 billion and $20 billion in exchange for approximately 3% of the company through a private placement.