Tether, the leading stablecoin provider, has recently joined forces with officials from the country of Georgia, solidifying their partnership through the signing of a Memorandum of Understanding (MOU). This collaboration marks a significant step towards Georgia’s ambition of becoming a global blockchain technology hub, while also enhancing Tether’s reputation as an influential infrastructure partner on a global scale.
The symbiotic relationship established between Tether and Georgia holds the potential to yield benefits for both parties involved. Paolo Ardoino, the Chief Technology Officer of the stablecoin issuer, expressed his enthusiasm for this development, considering it a noteworthy milestone that could facilitate the expansion of Tether’s product offerings.
Simultaneously, the signatories of the MOU are committed to bolstering Georgia’s position as a frontrunner in the blockchain and cryptocurrency industries worldwide. Tether and the Georgian government commended the country’s favorable business climate and high quality of life as factors that could attract foreign investments. Irakli Nadareishvili, the Deputy Minister of Economy and Sustainable Development, revealed that Tether is actively exploring investment opportunities in the region. Consequently, the company plans to establish a fund to support local entrepreneurs in fostering the growth of blockchain technology, positioning Georgia at the forefront of this transformative sector.
In addition to its collaboration with Georgia, Tether has previously partnered with officials from the Swiss city of Lugano. These initiatives are aimed at expanding the respective regions’ blockchain infrastructure and legitimizing their involvement in the rapidly evolving blockchain ecosystem.
Compiled by Coinbold