Tether Holdings SA, the issuer of the world’s largest stablecoin, is reportedly in talks with investors to raise as much as $20 billion in new capital, a deal that could propel the firm into the ranks of the world’s most valuable private companies.

According to people familiar with the discussions, Tether is seeking between $15 billion and $20 billion in exchange for roughly a 3% stake through a private placement. 

That would imply a valuation near $500 billion, putting the company in the same league as SpaceX and OpenAI. 

Talks remain in the early stages and details may shift before any deal closes, according to Bloomberg reporting.

Cantor Fitzgerald is said to be…

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