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Tether Partners with Uzbekistan to Propel Blockchain and Peer-to-Peer Innovation

Tether, the leading company in the sector, announced the signing of a Memorandum of Understanding (MOU) with the National Agency of Perspective Projects (NAPP) in the Republic of Uzbekistan. The strategic collaboration aims to position Uzbekistan as a global hub for peer-to-peer and blockchain technology, sparking a revolution in innovation and economic growth. The partnership underscores Tether’s commitment to advancing its global strategy of building resilient cities and nations.

The collaboration between Tether and NAPP is poised to explore and promote the development and adoption of blockchain technology, stablecoins, and digital asset tokenization in Uzbekistan. Moreover, it seeks to stimulate economic growth and innovation in the region, reflecting a shared vision for a technologically advanced and economically vibrant future.

Paolo Ardoino, CEO of Tether, expressed excitement about the collaboration, stating, “We are excited to collaborate with the National Agency of Perspective Projects of the Republic of Uzbekistan (NAPP) to explore the vast potential of blockchain, stablecoins, and peer-to-peer telecommunication technology in Uzbekistan. This collaboration demonstrates Tether’s commitment to fostering innovation and the responsible development of the digital asset ecosystem globally.”

As part of the collaboration, Tether aims to create a conducive environment for blockchain solutions and adoption by supporting the development of a legal framework and regulatory policy for crypto assets in Uzbekistan. This includes facilitating the development and implementation of Uzbekistan’s digital currency and exploring the potential of asset tokenization mechanisms. Tether will also focus on analyzing and improving Uzbekistan’s digital currency payment infrastructure while collaborating on educational initiatives to raise awareness and understanding of blockchain technology and stablecoins.

Recognizing the importance of a resilient digital infrastructure, Tether and NAPP will explore the development and implementation of a robust and independent communication and financial system. Together, they will work to enhance Uzbekistan’s digital currency payment infrastructure, making transactions faster, secure, and cost-effective.

In the midst of the ongoing digital transformation in both private and public sectors, Uzbekistan aims to collaborate with Tether to engage local academic institutions. The objective is to prioritize the creation and execution of educational programs aimed at enhancing public comprehension of blockchain technology, stablecoins, peer-to-peer telecommunications, and their practical uses. These initiatives seek to equip students and professionals with the necessary knowledge and proficiencies to thrive in the cryptocurrency sphere.

Lee Dmitriy Romanovich, the Director of NAPP, highlighted the significance of the collaboration, stating, “NAPP is dedicated to exploring the power of emerging technologies to propel Uzbekistan’s economic development. This collaboration represents a significant step in harnessing the enormous potential of blockchain technology and crypto-assets in general. Combined with other ongoing initiatives aimed at improving public services, a well-integrated and responsibly introduced blockchain ecosystem can have a profound impact on improving the lives of all Uzbekistan citizens.”

By joining forces with the Republic of Uzbekistan, Tether aims to strengthen the blockchain ecosystem, foster innovation, and promote the country as a global leader in blockchain and peer-to-peer technologies. This collaboration is expected to benefit the local startup community and elevate Uzbekistan’s reputation as an attractive destination for companies and professionals worldwide.

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