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Tether has teamed up with Uzbekistan’s National Agency of Perspective Projects (NAPP). They signed an agreement to work together on making rules for digital money in Uzbekistan and to help bring Uzbekistan’s own digital currency to life.
Breaking New Ground
Tether sealed the deal on March 7, and has explained in its press release that this is part of its big plan to help cities and countries around the world get stronger and more connected through blockchain.
CEO Paolo Ardoino shared his excitement about working with Uzbekistan, saying that this partnership is all about finding new ways to use crypto to make things better and grow the economy in Uzbekistan. They want to help more people learn about and use cryptocurrencies.
The plan includes helping to make rules and policies in Uzbekistan that are good for the crypto industry, helping to bring Uzbekistan’s own digital currency into the world, looking into ways to make assets digital, making payments better and faster.
Education and Innovation
A big part of this partnership is focusing on teaching and building a strong digital system. They want to work with schools in Uzbekistan to teach students and professionals about crypto. This is so they can understand it better and use it in their jobs.
Lee Dmitriy Romanovich, who leads NAPP, said this work with Tether is a big deal for Uzbekistan. He thinks that by working on these projects, they can really make a difference in how people in Uzbekistan live and work. They want to make Uzbekistan a place where new companies and experts from all over the world want to come.
In related news, Tether’s stablecoin, USDT, has been seeing massive success recently, reaching a value of over $100 billion for the first time. This is a big deal because it means Tether has grown by 9% since the start of the year, and is doing a lot better than its biggest competitor, USDC.