BusinessPostCorner.com
No Result
View All Result
Monday, June 2, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Tether Strikes Partnership Deal with Georgia Gov’t

June 30, 2023
in Crypto News
Reading Time: 3 mins read
A A
0
Tether Strikes Partnership Deal with Georgia Gov’t
ShareShareShareShareShare
Source: Grigory Bruev/Adobe

Tether, the firm behind the USDT coin, says it has struck a partnership deal with government of Georgia.

Per an official Tether release and a report from Forklog, the firm has signed a Memorandum of Understanding (MOU) deal with the nation’s government.

The firm will initially create a fund that provides investment and grants to Georgian startups working in the blockchain technology field.

The company also plans to “promote” the use of payment systems based on peer-to-peer technologies in both the public administration space and the private sector.

Georgia’s Deputy Minister of Economy and Sustainable Development Irakli Nadareishvili said Tether was “interested in investing in Georgia.”

And Nadareishvili said Tether would help “position Georgia as a country with an attractive ecosystem for technological startups.”

The Deputy Minister said:

“We have agreed on cooperation in the educational field regarding blockchain technology. This will contribute to the development of local blockchain technologies in the country, as well as the introduction of companies operating in this sector in Georgia.”

What Is Tether Hoping to Achieve in Georgia?

Georgia has had a somewhat mixed relationship with the world of crypto over the years.

University of Cambridge data from January 2022 indicates that Georgia was responsible for just 0.23% of the world’s Bitcoin hashrate.

But this statistic appears to mask the fact that few other nations in the world dedicate more of their national power consumption to mining crypto.

Mining has been growing in the country – and more widely in the Central Asia region – since the mid-2010s.

In the winter of 2021, communities all over the country began reporting power outages and blackouts, with crypto miners blamed.

A graph showing Bitcoin hashrate distribution among largest mining pools over the past seven days.
Bitcoin hashrate distribution among largest mining pools over the past seven days. (Source: Blockchain.com)

But this has not dampened the country’s crypto ambitions.

Last year, the country revealed plans to become a crypto “hub” by adopting EU-inspired regulations.

Tether wrote that the MOU also “highlights” its “commitment to advancing its global strategy of building resilient cities and nations worldwide.”

Paolo Ardoino, the firm’s CTO, said:

“Through close collaboration with the government of Georgia, Tether aims to create a flourishing environment for peer-to-peer technology usage. This collaboration [is] a significant milestone for Tether.”

The firm spoke of its intention to “foster a thriving startup ecosystem in Georgia,” and train students in blockchain-related matters.

In May, Tether struck an MOU deal with the University of Business and Technology of Georgia.

The parties agreed to “promote education in the fields of cryptocurrencies and blockchain in Georgia.”

With few major international players active in a country that has become increasingly crypto-keen, Tether may believe it has found an opening to the Central Asian market.


Credit: Source link

ShareTweetSendPinShare
Previous Post

IRS offers guidance on tax credits for clean energy projects

Next Post

US state department faults Biden and Trump for chaotic Afghan pullout

Next Post
US state department faults Biden and Trump for chaotic Afghan pullout

US state department faults Biden and Trump for chaotic Afghan pullout

IRS leveraging AI for audits amid layoffs

IRS leveraging AI for audits amid layoffs

May 27, 2025
US green energy braces for federal funding cuts

US green energy braces for federal funding cuts

May 29, 2025
Brazil sues China carmaker BYD over ‘slave-like’ conditions

Brazil sues China carmaker BYD over ‘slave-like’ conditions

May 28, 2025
Heathrow Airport chief asleep as airport closed over outage

Heathrow Airport chief asleep as airport closed over outage

May 28, 2025
Iran has increased enriched uranium by 50%, says UN watchdog

Iran has increased enriched uranium by 50%, says UN watchdog

May 31, 2025
OPEC+ agrees on third oil supply surge despite Russia’s qualms

OPEC+ agrees on third oil supply surge despite Russia’s qualms

May 31, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

UK house price growth in May exceeds forecasts

UK house price growth in May exceeds forecasts

June 2, 2025
This little-known AI darling is climbing the Fortune 500 faster than any other company

This little-known AI darling is climbing the Fortune 500 faster than any other company

June 2, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!