• Tether, the company behind the world’s largest stablecoin USDT, has signed a Memorandum of Understanding (MOU) with Georgia’s government.
• The partnership reinforces the firm’s position as “a pioneering infrastructure partner for cities and nations globally” and will assist the country in its effort to become a global center for blockchain technology.
• A designated fund for local startups is set up to support the advancement of blockchain technology in the region.
Tether Collaborates With Georgia
The company behind the world’s largest stablecoin USDT – Tether – signed a Memorandum of Understanding (MOU) with Georgia’s government to reinforce their position as “a pioneering infrastructure partner for cities and nations globally” and assist the country in its effort to become a global center for blockchain technology.
Designated Fund For Local Startups
The MOU between Tether and Georgia’s government also focuses on creating a designated fund for local startups that will support the advancement of blockchain technology in the region. This move could positively affect both parties – Paolo Ardoino – CTO of Tether – described it as “a significant milestone” that could help his organization in its goal to diversify its offerings.
High Quality Of Life & Favorable Working Conditions
Both Tether and Georgian government praised Georgia’s high quality of life and favorable working conditions which could attract more foreign investments into this area, thus reinforcing its status as an innovative hub worldwide.
Positively Affecting Crypto Adoption In The Country
The collaboration between these two parties is expected to have positive effects on crypto adoption in Georgian markets, particularly given their welcoming approach towards cryptocurrencies already evidenced by their legislative framework regarding digital assets.
Georgia To Become A Global Blockchain Hub
By signing this MOU, Tether hopes to facilitate cryptocurrency adoption throughout Georgia while helping them achieve their goal of becoming a global leader in blockchain technology innovation.