Tether International successfully completed the acquisition of Twenty One Capital (XXI), acquiring the entire stake held by Japanese conglomerate SoftBank. This strategic move allowed the world's largest stablecoin issuer to consolidate full control over the entity holding one of the largest public Bitcoin reserves in the market. The agreement was officially announced on May 20, 2026, resulting in SoftBank representatives stepping down from their board seats, and Tether's management publicly reaffirming its unconditional confidence in XXI's long-term prospects as a key player in the crypto industry.

After going public in December 2025 through a merger with SPAC Cantor Equity Partners, Twenty One Capital immediately took third place in the global ranking of public holders of the first cryptocurrency. At its debut, the organization accumulated over 43,500 BTC, equivalent to approximately $4 billion. While Tether and the crypto exchange Bitfinex formed the core of the investment capital, SoftBank held a significant minority stake, equivalent to approximately 10,500 BTC. Initially, the presence of such a reputable tech giant provided the project with institutional legitimacy and the necessary management experience, which helped it develop an effective strategy and attract the attention of major partners. Now, with the acquisition of this stake, Tether has become the sole majority owner of XXI with unlimited voting rights.

Commenting on the completion of the deal, Tether CEO Paolo Ardoino expressed deep appreciation to SoftBank for building a solid foundation and noted that the company retains clear goals and ambitious plans. Notably, the acquisition of XXI occurred just months after Tether proposed a major merger. The issuer plans to merge Twenty One Capital with Jack Mallers' fintech platform Strike and energy company Elektron Energy. The creation of this diversified Bitcoin conglomerate will bring together digital asset management, mining capacity, lending services, and other advanced financial services under one roof.

Unlike MicroStrategy's strategy, which focuses primarily on passive token accumulation, XXI is focusing on the active development of its operating model and the entire supporting ecosystem. Management's key objective remains maximizing the number of Bitcoins per share (BPS) through aggressive market purchases and the use of traditional capital instruments. Tether's latest moves clearly demonstrate that the company is actively leveraging its liquid balance sheet to strengthen its influence in public markets by investing in the cryptocurrency's infrastructure. In the coming months, investors are expecting news from the 21st century regarding upcoming mergers, new funding rounds, and accelerated growth in cryptocurrency reserves amid the global trend of corporations adopting Bitcoin.