Tether participated in the SDEV $134 million private placement, supporting its layout in the Sky ecosystem.

Techub News reported, according to The Block, stablecoin issuer Tether has confirmed its participation in the $134 million private placement previously completed by the listed company Stablecoin Development Corporation (SDEV). SDEV aims to provide public market investors with exposure to the stablecoin sector. Its core strategy includes holding the governance token SKY of Sky Protocol and utilizing the stablecoin USDS.

As of March 31, 2026, SDEV holds approximately 2.15 billion SKY tokens, accounting for about 9.15% of the token's total supply. This financing was actually completed in January this year. Besides the investment platform under Tether, other investors include R01 Fund LP, Framework Ventures, and Sky Frontier Foundation. The financing consisted of 943.6 million SKY tokens, $25 million in cash, and stablecoins worth $51 million, and has been used to accumulate approximately 1.17 billion additional SKY tokens in the public market.