- Collaboration aims to develop blockchain technology in the region
- The company will create a special fund for local startups
On Wednesday, June 28, USDT Stablecoin issuer Tether announced the signing of a Memorandum of Understanding with the Georgian government.. This collaboration aims to position Georgia as a key hub for peer-to-peer and blockchain technology, fostering innovation and economic growth.
Paolo Ardoyno, CTO of Tether, said:
“Through the collaboration, Tether provides an enabling environment for peer-to-peer technology.. We are looking to promote blockchain technology as well as peer-to-peer technology solutions such as Keet and Holepunch.”
Georgia’s Deputy Minister of Economy and Sustainable Development, Irakli Nadareishvili, said that Tether is showing interest in investing in the country. To this end, the company plans to create a special fund for local startups. The organization aims to promote blockchain technology development and position Georgia as an attractive ecosystem for tech startups.
“An agreement was also reached on cooperation in education with a focus on blockchain technology, which will help develop local blockchain technologies and companies operating in this sector,” added the Deputy Minister.
In late May, Tether expanded its presence in Georgia by investing in payment startup CityPay.io, which has more than 600 locations across the country, including stores, hotels, restaurants and more.