As part of its dedication to promote the adoption and development of crypto, blockchain, and stablecoins in the Republic of Uzbekistan, Tether has collaborated with the National Agency of Perspective Projects (NAPP). In a Thursday blog post, the stablecoin issuer confirmed the collaboration, stressing that it signed Memorandum of Understanding (MoU) with NAPP to ignite a revolution of digital innovation in the region.
NAPP is an agency that is saddled with the responsibility of ensuring crypto regulation and development in the region. With its strategic collaboration with Tether, the agency seeks to position Uzbekistan as a global hub for blockchain technology. More so, the move will help stimulate economic development and innovation within the region.
According to Tether, its partnership with NAPP highlights its commitment to improving its global strategy of developing resilient cities and nations across the globe. Its CEO, Paolo Ardoino believes the development will provide the ground for the exploration of the extensive potential of stablecoins, blockchain, and more in Uzbekistan. That said, he also re-emphasized Tether’s ambition to drive responsible development of the digital asset economy worldwide.
Tether to support the development of crypto regulatory framework in Uzbekistan
As part of the agreements signed with NAPP, Tether is expected to support the development of a regulatory framework that will create an enabling environment for blockchain to thrive in the region. Also, the renowned stablecoin issuer will also facilitate the implementation of Uzbekistan’s digital currency. This, according to the announcement, will be made possible by harnessing the potential of asset tokenization mechanisms.
As such, Tether plans to improve the payment structure of the digital currency to bring about safe and faster transactions. To foster awareness about blockchain, stablecoin, and P2P telecommunication in Uzbekistan, Tether also wants to integrate numerous educational initiatives.
Going forward, Tether and NAPP aims to work together with local academic institutions to drive effective education programs. This programs will be implemented to enhance public view and position about blockchain, stablecoins, and crypto. More so, the programs will help residents in the region understand the practical uses of these digital technologies.
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