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Tether Provides $100,000 Grant to BTCPay Server Foundation in Support of Open-Source Movement

Tether has recently announced a significant grant of $100,000 to the BTCPay Server Foundation, reaffirming its commitment to advancing the principles of the free and open-source software movement.

The BTCPay Server Foundation is widely recognized for its open-source payment processor software, which has been adopted and customized by numerous merchants and businesses worldwide to facilitate transactions in Bitcoin (BTC) and USDT.

Paolo Ardoino, CEO of Tether, emphasized the company’s dedication to nurturing the growth of open-source technology through this grant.

“Our grant to the BTCPay Server Foundation underscores Tether’s ongoing support for the open-source community and our belief in the transformative potential of technology,” stated Ardoino.

The BTCPay Server Foundation, renowned for advocating financial privacy and freedom, welcomed Tether’s contribution. The grant will play a crucial role in enhancing BTCPay Server’s capabilities for innovation and expansion, in line 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 appreciation for Tether’s acknowledgment of the project’s significance.

“I am grateful to Tether for acknowledging the importance of BTCPay Server as a Bitcoin FOSS project and for its generous grant,” stated the developer. “This contribution greatly empowers us to focus on our mission: enabling anyone to accept Bitcoin without hindrance from geographic, political, or financial barriers.”

In addition to its support for BTCPay Server, Tether has achieved a significant milestone with its USDT stablecoin surpassing $100 billion in circulation, driven by growing demand for Bitcoin. Despite a slight adjustment and a momentary value exceeding $1, Tether’s reserves soared to $97 billion in December, primarily invested in short-term U.S. Treasury bills.

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