Tether Signs MOU with Uzbekistan to Foster Blockchain and P2P Telecommunications Infrastructure Development

Tether Signs MOU with Uzbekistan to Foster Blockchain and P2P Telecommunications Infrastructure Development

Tether Signs MOU with Uzbekistan to Foster Blockchain and P2P Telecommunications Infrastructure Development

The issuing company behind the stablecoin USDT, Tether, announced on Thursday (7th) that it has signed a memorandum of understanding with the National Agency of Project Management and Development (NAPP) of Uzbekistan, which is responsible for cryptocurrency regulation and development. The goal of this collaboration is to explore and promote the development and adoption of blockchain technology, stablecoins, and digital asset tokenization in Uzbekistan, while also promoting economic growth and innovation in the region.

Paolo Ardoino, CEO of Tether, stated in a press release that the company will focus on supporting the establishment of a favorable legal framework and regulatory policies for cryptocurrency assets in Uzbekistan, promoting the development and implementation of digital currencies in the country, exploring the potential of asset tokenization mechanisms, and collaborating on educational activities to enhance people’s awareness and understanding of blockchain technology and stablecoins.

Tether and NAPP will also explore the development and implementation of a robust and independent communication and financial system. Both parties will jointly analyze and improve Uzbekistan’s digital currency payment infrastructure to achieve faster, safer, and more cost-effective transactions.