Leading stablecoin issuer, Tether has collaborated with Lugano’s 3Achain to expand blockchain infrastructure in the city. With this collaboration, Tether is setting its sights on enhancing the adoption and utilization of the blockchain infrastructure in Lugano.
It is worth establishing that 3Achain is the official blockchain infrastructure promoted by the city. The project was designed through strategic collaborations with both public and private partners. It offers a combination of security, scalability, and decentralization into Lugano’s blockchain. This blockchain is the underlying tech of Luga stablecoin (LVGA). According to the press statement by Tether, its collaboration with 3Achain will also expand the use cases of the blockchain infrastructure.
More so, as part of the deal, Tether and Lugano will also work together to cement blockchain as the cornerstone of the city’s financial infrastructure transformation. Recently, Lugano became the first city in Switzerland to harness the potential of stablecoin through its LVGA launch. Today, the city has adopted the stablecoin as its official medium of exchange.
By providing a validator node for 3Achain, Tether is fostering the development of Lugano’s blockchain. This, according to the stablecoin issuer, represents a big step forward in the execution of its MoU signed with Lugano last year. In the agreement, Tether and Lugano also want to harness the power of Bitcoin tech to transform the city’s financial sector. With this plan, blockchain and Bitcoin will be fully scaled in the city and therefore reach all its residents.
Tether and Its MoU with Georgia
Apart from Lugano, Tether also signed an MoU with Georgia to foster economic growth and tech development with blockchain. The stablecoin issuer wants to position the country as a central hub for peer-to-peer and blockchain development. In recent years, the Georgian authorities have shown great commitment to facilitating economic and tech growth in the country. With the agreement between the two partners, they want to attract international investments to Georgia.
More so, Tether and the Georgian Government look to initiate blockchain education to provide students with the necessary skills to thrive in the sector. To achieve this, the two partners will work with local academic bodies in the country to come up with blockchain-oriented programs for students.