In a joint statement, Tether, the company behind USDT’s largest staplecoin by capitalization, and the Georgian government announced that the main goal of the partnership is to turn the country into a global blockchain hub.
Initially, the partners’ activities will focus on developing Georgia’s startup ecosystem and creating an environment that fosters decentralized solutions, peer-to-peer digital communications and payment systems, and the introduction and development of national peer-to-peer technologies.
As part of their commitment, Tether and the Georgian government will form a special fund to support local entrepreneurs, providing investments and grants to startups focused on blockchain services.
According to the project participants, creating an enabling environment for the development of peer-to-peer networks will attract new investments to the country and contribute to overall economic progress.
Earlier, Tether announced
Tether announced earlier that it would expand its presence in the Georgian market through investments in payment processing operator CityPay.io.