Tether, the largest cryptocurrencycurrency company, signed a MOU with the National Agency of Perspective Projects (NAPP) to help transform the country into a key hub for blockchain innovation and peer-to-peer technology.
Tether will contribute to the development of Uzbekistan’s cryptocurrencycurrency rules and policy framework as part of the agreement. The focus is on building a digital currency and improving payment infrastructure. This approach is consistent with Tether’s aim to build global digital asset ecosystems.
The central bank will establish a digital currency and examine the current payment infrastructure. As a result, Tether is consistent with its overall aim of supporting global digital asset markets.
Paolo Ardoino, the CEO of Tether, said, “This cooperation is evidence of Tether’s commitment to create innovation and develop the digital asset’s ecosystem in a way which is responsible globally.”
Tether’s program also prioritizes education, investing in educational projects that raise understanding of blockchain and stablecoins.
Lee Dmitriy Romanovich, NAPP Director, stated that “this collaboration represents a significant step in harnessing the enormous potential of blockchain technology and cryptocurrency-assets in general.”
Tether’s recent $380 million purchase of Bitcoins exemplifies the company’s strong interest in cryptocurrencycurrency. In September 2022, Tether invested a total of $66,465,000, or BTC, in its reserves.
Tether’s strategic engagement with Uzbekistan to advance blockchain and cryptocurrencycurrency initiatives, combined with its commitment to education and large Bitcoin investments, demonstrates a strong global vision for responsible development in the digital asset ecosystem.
