Bittime - Tether, the world's largest USDT stablecoin issuer, today announced the signing of a Memorandum of Understanding (MoU) with the National Agency of Perspective Projects (NAPP) of Uzbekistan. This strategic collaboration marks Tether's move to position Uzbekistan as a leader in peer-to-peer (P2P) and blockchain technology.
This MoU is part of Tether's global strategy to build "resilient cities and nations." By combining Tether's expertise in blockchain and digital assets with NAPP's vision to advance Uzbekistan's economy, this collaboration is expected to bring significant benefits to both parties.
Tether Paves the Way to Uzbekistan's Digital Future
More than just a collaboration, Tether and NAPP's collaboration aims to explore the development and adoption of blockchain technology, stablecoins , and asset tokenization. Tokenization itself has recently become a hot topic of conversation, even well-known financial figures such as Larry Fink from BlackRock see it as a breakthrough for the future.
The success of stablecoins, especially USDT issued on various blockchains such as Ethereum and Tron , is clear evidence of the benefits of tokenization. Each USDT in circulation has a value pegged to 1 USD (United States Dollar).
This collaboration not only focuses on technological development, but also includes Tether's contribution to the development of the legal and policy framework related to crypto in Uzbekistan. Tether's press release stated that they would participate in the creation and implementation of Uzbekistan's digital currency and payments infrastructure.
To date, Uzbekistan has not officially announced plans to launch its own Central Bank Digital Currency (CBDC) or digital token.
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Synergy for Economic Growth and Crypto Literacy
The scope of the Tether and NAPP MoU does not stop there. The two agreed to work together in efforts to encourage economic growth and contribute to technological innovation in Uzbekistan. Not to forget, education about blockchain and crypto will also be an important focus in this collaboration.
Tether, as a leading stablecoin issuer, continues to demonstrate its commitment to advancing blockchain technology and digital assets. This collaboration with NAPP Uzbekistan is a clear example of Tether's contribution to building a strong and inclusive blockchain ecosystem.
Tether Takes Part in Bitcoin Mining
Apart from being active in the development of blockchain technology and digital assets, Tether is also known as an investor and key player in the Bitcoin mining industry. Since September 2022, Tether has been purchasing Bitcoin (BTC) gradually, and as of the fourth quarter of 2023, Tether is recorded as having a total of 66,465 BTC with a purchase value of $380 million.
Not only making direct purchases, Tether is also actively involved in Bitcoin mining and energy production activities. The company is known to have poured hundreds of millions of dollars into building Bitcoin mining facilities in South America as well as funding other mining centers, including Northern Data AG.
Tether's move to collaborate with NAPP Uzbekistan and be active in the Bitcoin mining industry shows their long-term commitment to building a brighter future for blockchain and digital assets.
USDT/IDR Tether Price Today on Bittime
Source: Bittime.com
On March 8, 2024, the price of Tether USDT/IDR was at IDR 15,718 per coin, down 0.13% in 24 hours.
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About Tether
Tether is a blockchain platform that allows users to send, receive, and store digital tokens pegged to fiat currencies, such as USD (United States Dollar) and EUR (Euro). Tether was founded in 2014 and is one of the most popular stablecoins in the world.
About NAPP Uzbekistan
NAPP Uzbekistan is a government agency created in 2020 with the aim of developing and promoting innovative projects in Uzbekistan. NAPP is responsible for crypto regulation in the country and has a focus on developing the blockchain and digital assets industry.
Conclusion
Tether and NAPP Uzbekistan have established strategic cooperation through the signing of an MoU. This collaboration aims to encourage the adoption of blockchain technology and digital assets in Uzbekistan, as well as building a supportive legal and policy framework. Tether will help Uzbekistan develop digital currency and payment infrastructure, as well as increase education around blockchain and crypto.
This collaboration is part of Tether's global strategy to build "resilient cities and nations." Tether's contributions to the development of blockchain and digital assets, including investment in Bitcoin and participation in mining, demonstrate their long-term commitment to building a brighter future.
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How to Buy Tether (USDT) on Bittime
You can buy and sell Tether (USDT) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Tether (USDT) is available on Bittime with the USDT/IDR market pair . To be able to buy USDT/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Tether (USDT) on Bittime .
Monitor price chart movements of Tether (USDT) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Bitcoin (BTC) Today: Price Skyrockets, Bitcoin Mining Stocks Drop?
How Does Tether (USDT) Influence Global Economic Development? Read the explanation
Ethereum (ETH) vs Solana (SOL): Price Comparison of ETH/IDR and SOL/IDR
DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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