Tether Collaborates With Georgia to Place the Country as a Global Blockchain Hub

Tether – the company behind the world’s largest USDT stablecoin – has signed a Memorandum of Understanding (MOU) with the Government of Georgia.

The partnership strengthens the company’s position as a “leading partner in city and country infrastructure globally” and will aid the country in its efforts to become a global hub for blockchain technology.

Georgia is strengthening its position in the crypto world

According to a document I have seen Potato encryption, the signed cooperation can positively affect both Tether and Georgia. Paolo Ardoino, the stablecoin issuer’s chief technology officer, called the move an “important milestone” that could help his institution achieve its goal of diversifying its offering.

“With a deep understanding of the potential of cryptocurrencies, Tether aims to empower cities and facilitate the adoption of blockchain technologies such as Bitcoin as well as peer-to-peer technology solutions such as Keet and Holepunch,” he added.

At the same time, the MOU will focus on creating a thriving startup ecosystem in Georgia and catalysing the country’s push into the crypto world. Both Tether and the Georgia government praised the country’s high quality of life and favorable business conditions that can attract international investment.

Irakli Nadarishvili, Deputy Minister of Economy and Sustainable Development, said Tether is interested in investing in the region. As such, the company will offer a fund to local startups to help develop blockchain technology and position Georgia as a leader in the field.

“We also agreed to cooperate in the educational field regarding blockchain technology, which will contribute to the development of domestic blockchain technologies in the country, as well as the introduction of companies operating in this sector in Georgia,” the official revealed.

Share the tether in Lugano

Besides its involvement in Georgia, the company has previously shook hands with the Swiss city authorities of Lugano.

The deal, which was signed last year, aims to expand the city’s blockchain capabilities and make Bitcoin (BTC) and USDT legal tender in the region.

CTO Ardoino applauded the initiative, highlighting the success El Salvador has achieved after announcing the primary official payment method for cryptocurrency within its borders:

“El Salvador’s GDP increased by 10%, and tourism increased by 30% after bitcoin was declared legal tender. Imagine what we could do in a city in Central Europe.”