Tether International announced that it has acquired SoftBank’s stake in Twenty One Capital, increasing its ownership position in the Bitcoin-focused company.

The company stated that, following the completion of the transaction, SoftBank representatives stepped down from Twenty One Capital’s Board of Directors in accordance with the company’s shareholder agreement.

According to Tether, the transaction is part of Twenty One Capital’s continued development as it advances its long-term Bitcoin strategy. 

The company said the acquisition reflects Tether’s increased commitment to the business.

SoftBank participated in Twenty One Capital’s early development and held board representation during the company’s formation stage. 

Tether noted that SoftBank contributed experience from its investments across technology, infrastructure, communications, and financial services sectors.

“SoftBank’s involvement gave XXI the kind of institutional depth that few early-stage companies ever have,” said Paolo Ardoino. 

He added that SoftBank’s experience helped support Twenty One Capital during its early development and that Tether remains confident in the company’s future direction.