The company behind the stablecoin USDT, Tether, announced on Thursday (7th) that it has signed a memorandum of understanding with the National Agency for Project Management and Development (NAPP) of Uzbekistan, responsible for cryptocurrency regulation and development. The goal of this collaboration is to explore and promote the development and adoption of blockchain technology, stablecoins, and digital asset tokenization in Uzbekistan, while promoting economic growth and innovation in the region.
Paolo Ardoino, CEO of Tether, stated in the press release that in order to create an environment conducive to blockchain solutions and adoption, the company will focus on supporting the development of the legal framework and regulatory policies for crypto assets in Uzbekistan, promoting the development and implementation of digital currencies in the country, exploring the potential of asset tokenization mechanisms, and collaborating on educational activities to enhance people’s understanding of blockchain technology and stablecoins.
Tether and NAPP will also explore the development and implementation of a robust and independent communication and financial system. Both parties will jointly analyze and improve Uzbekistan’s digital currency payment infrastructure to achieve faster, safer, and more cost-effective transactions.
