- Cooperation aims to develop blockchain technology in the region
- The company will create a special fund for local startups
On Wednesday, June 28, USDT stablecoin issuer Tether announced on signing a Memorandum of Understanding with the Government of Georgia. This collaboration aims to place Georgia as a key hub for peer-to-peer and blockchain technologies, promoting innovation and economic growth.
Paolo Ardoino, CTO of Tether, stated:
“Through this collaboration, Tether provides an enabling environment for peer-to-peer technology. We aim to promote the adoption of blockchain technologies as well as peer-to-peer technology solutions such as Keet and Holepunch.”
Deputy Minister of Economy and Sustainable Development of Georgia, Irakli Nadareishvili, said that Tether is interested in investing in the country. To this end, the company plans to create a special fund for local startups. The goal of the organization is to promote the development of blockchain technologies and position Georgia as an attractive ecosystem for technology startups.
“An agreement was also reached on cooperation in the field of education with a focus on blockchain technology, which will contribute to the development of local blockchain technologies and companies operating in this sector,” the deputy minister added.
At the end of May, Tether expanded its presence in Georgia with an investment in payment startup CityPay.io, which has over 600 outlets across the country, including shops, hotels, restaurants and more.