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Stablecoin issuer Tether has partnered with a
technology and strategy company specializing in virtual and 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 leverage 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 reports 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 (EMI) 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 (MiCA) 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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