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03/07/24
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Tether Collaborates With BTguru to Explore Real-World Asset Tokenization in Turkey
On July 2, USDT issuer Tether announced that it has signed a Memorandum of Understanding (MoU) with BTguru, a firm which specializes in cryptocurrency assets. They are working towards the evaluation of digital assets educational initiatives in Turkey.
Tether established Tether EDU to ensure that everyone can access education without bounds anywhere, and the MoU is part of the initiative. Together with BTguru, Tether is evaluating how to develop all-inclusive programs aimed at introducing people to the benefits of blockchain and peer-to-peer technology.
The firm wants to leverage BTguru’s connections towards facilitating discussions with Turkey’s financial institutions. Further, they will be exploring real-world asset tokenization use cases for banks and evaluating regional payment network scenarios based on Btguru Core.
In the words of Tether CEO Paolo Ardoino, “Tether and BTguru believe in the transformative power of digital assets and peer-to-peer technologies. This MOU has the potential to provide a solid foundation for the responsible and informed use of digital assets.”
The International Trade Administration, U.S. Department of Commerce said Turkey is the fourth country in the list of crypto transaction volume, suggesting that people are becoming more interested in digital assets.
Similarly, according to Chainalysis, cryptocurrency transactions valued at about $170bn was received in over the past year, suggesting that currency devaluation is influencing people to adopt crypto significantly across the country.
“This MoU could mark a significant milestone in advancing digital asset education in Türkiye, making the financial landscape more inclusive and resilient for businesses and individuals across the country,” said Tether.
Last month, the Financial Action Task Force (FATF) removed Turkey from its gray list, based on the significant progress recorded to improve its regime for Anti-Money Laundering (AML) and countering terrorist financing.
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