The National Agency for Prospective Projects (NAPP) of Uzbekistan has forged a strategic alliance with Tether, a leading company in the field of digital finance. The partnership, solidified through a Memorandum of Understanding, aims to propel the development of crypto-assets and blockchain infrastructure within Uzbekistan while fostering innovation, NAPP reported on March 7.
As per to the memorandum, the collaboration between the Agency and Tether will focus on several key areas, including the development of blockchain technology, stable tokens, and asset tokenization in Uzbekistan. Additionally, the partnership seeks to enhance the legislative framework surrounding the circulation of crypto-assets and explore the implementation of Central Bank Digital Currency (CBDC). Educational initiatives to increase public awareness and literacy in blockchain and crypto technologies are also on the agenda.
Director of the Agency, D. Lee, expressed enthusiasm about the partnership, stating,
"The Agency strives to explore all possibilities of using new technologies for the economic development of Uzbekistan. Collaboration with Tether, which has unique experience, represents a significant step in harnessing the enormous potential of blockchain technology and crypto-assets in general."
Tether's CEO, Paolo Ardoino, echoed this sentiment, emphasizing the company's commitment to promoting innovation and responsible development in the digital asset ecosystem.
"We are pleased to partner with the National Agency for Prospective Projects of the Republic of Uzbekistan to explore the enormous potential of blockchain technology in Uzbekistan," said Ardoino.
Tether, it is a global leader in the issuance and utilization of stablecoins, playing a pivotal role in the digital finance realm. With a focus on driving innovation and setting new standards for sustainability and inclusion, Tether has been at the forefront of transformative technologies and financial systems.
Tether's flagship token, USDT, has gained prominence since its inception in 2014. Designed to maintain stability by pegging its value to the U.S. dollar, USDT stands out as a reliable option in the volatile world of crypto-assets. Its consistent value and widespread adoption have propelled USDT to the forefront of stable tokens, ranking among the top three crypto assets by capitalization and turnover on international platforms.
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