Stablecoin USDT issuer Tether has signed a Memorandum of Understanding (MoU) with the government of Georgia. The aim of this strategic collaboration is to position Georgia as a central hub for crypto and blockchain initiatives, boosting economic growth.
Tether mentioned in its latest tweet that its CTO, Paolo Ardoino, and Deputy Minister of Economy, Irakli Nadareishvili, signed an MoU to develop blockchain, bitcoin, and peer-to-peer Infrastructure.
Paolo Ardoino (CTO, Tether) and Irakli Nadareishvili (Deputy Minister of Economy and Sustainable Development) signing the MOU for the collaboration between Tether and the Government of Georgia to develop Blockchain, #Bitcoin and Peer-to-Peer Infrastructure. pic.twitter.com/g3LayZxDPX
— Tether (@Tether_to) June 28, 2023
Ardoino commented that the collaboration marks a significant milestone for Tether and positions it as a pioneering infrastructure partner for cities and nations globally. Through this initiative, Tether aims to empower cities and promote the adoption of blockchain technologies and peer-to-peer solutions like Keet and Holepunch.
Nadareishvili expressed enthusiasm for the government’s cooperation in blockchain technology education and stated that it would contribute to the development of local blockchain technology and attract companies operating in the sector to Georgia.
Tether would establish a special fund to support local startups and facilitate international collaborations. The Government of Georgia would also explore the development and implementation of a financial system that includes digital communication and payment solutions based on peer-to-peer technologies.
The latest collaboration would also elevate the country’s reputation as an attractive hub for companies and professionals worldwide. Moreover, Tether would advance its global strategy to secure its position as a leading partner in the blockchain sector.
The dedicated fund would provide investments and grants to domestic startups in the blockchain field while leveraging the transparency and security of blockchain technology to transform both the private and public sectors. Last month, Tether and Georgia’s Business and Technology University (BTU) also signed an MoU to promote blockchain and crypto education in the region, further solidifying their efforts to establish Georgia as a global leader in advanced technologies.
According to a report by Barrons.com, Tether might generate $6 billion in profits in 2023. With ongoing collaborations and new initiatives, it remains intriguing to see how Tether would accomplish its objectives.
