Stablecoin issuer Tether has partnered with a technology and strategy company specializing in crypto assets to develop educational initiatives in Türkiye. This collaboration reportedly aims to equip individuals with the knowledge to navigate the digital age.
MoU to Advance Crypto Education
According to the press release, the new agreement with BTguru reflects Tether's broader aspiration for Tether EDU, a global initiative dedicated to making education accessible and boundless. The MoU has outlined plans to develop comprehensive programs that introduce private and public stakeholders in Türkiye to the benefits of blockchain and peer-to-peer technology.
These programs will reportedly utilize BTguru's connections to facilitate discussions with financial institutions, explore real-world asset tokenization, and evaluate regional payment networks utilizing BTguru Core.
Speaking about the new agreement, Paolo Ardoino, Tether's CEO, mentioned: "Tether and BTguru believe in the transformative power of digital assets and peer-to-peer technologies. This MOU has the potential to provide a solid foundation for the responsible and informed use of digital assets. We are excited to be part of a movement that could promote freedom and educate people across Türkiye."
Tether's education initiative extends beyond Türkiye. The USDT issuer is reportedly engaging a regulated digital asset infrastructure platform in the MENA region to enhance digital asset education across the Middle East.
Tether Signs MoU with BTguru to Drive Digital Asset Education in TürkiyeLearn more: https://t.co/UhFEMs5d4s
— Tether (@Tether_to) July 2, 2024
Expanding Educational Efforts
Türkiye ranks as the fourth-largest nation in cryptocurrency transaction volume, according to the International Trade Administration U.S. Department of Commerce, as cited by Tether. Also, Chainalysis reported that Türkiye received approximately $170 billion in crypto transactions over the past year, driven by the need to counteract currency devaluation.
Elsewhere, the second largest stablecoin issuer, Circle, was recently registered as an electronic money institution in France. This approval makes Circle one of the compliant stablecoin issuers under the European Union's cryptocurrency regulations.
The issuer of USD Coin stablecoin obtained the e-money license from France's banking industry regulator, the Autorité de Contrôle Prudentiel et de Résolution. As a result, Circle is now compliant with the EU's Markets in Crypto-Assets regulations.
Still, in the stablecoin sector, Paxos has received full approval from Singapore to issue stablecoins. The license awarded by the Monetary Authority of Singapore enables the firm to offer digital payment token services through its entity, Paxos Digital Singapore Pte. Ltd. The regulatory milestone broadened the number of markets Paxos is authorized, which include the US and the UAE.
This article was written by Jared Kirui at www.financemagnates.com.
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