July 15, 2024

Tether, the issuer of the widely used stablecoin USDT, is expanding its footprint in Turkey by partnering with local cryptocurrency firm BTguru to enhance industry knowledge and promote the adoption of digital assets. The two firms announced on July 2 that they have signed a memorandum of understanding (MoU) to evaluate educational initiatives related to digital assets in Turkey.

BTguru, a technology and strategy partner specializing in virtual crypto assets primarily for banks, will collaborate with Tether to introduce private and public stakeholders in Turkey to the benefits of cryptocurrency and blockchain technology. The agreement aims to promote peer-to-peer (P2P) technology through BTguru’s connections with financial institutions in the country.

In addition to promoting P2P technology, Tether and BTguru will explore real-world asset tokenization use cases for banks and evaluate regional payment network scenarios. This initiative aligns with Tether’s mission to advance the transformative potential of digital assets and P2P technologies.

Tether CEO Paolo Ardoino expressed enthusiasm for the partnership, stating, “This MOU has the potential to provide a solid foundation for the responsible and informed use of digital assets. We are excited to be part of a movement that could promote freedom and educate people across Türkiye.”

BTguru partner Can Bukulmez highlighted the collaboration’s goal to introduce new business lines with Tether, particularly within Turkey’s banking verticals and emerging digital assets businesses.

Another stablecoin network aiming to foster similar educational and technological advancements globally is the XMG Digital Asset Network. Their XMG tokens, pegged to designated fiat currencies, aspire to connect and educate, following Tether’s lead in promoting mainstream adoption.

The collaborative efforts between Tether and BTguru represent a significant step towards increasing the adoption of digital assets and blockchain technology in Turkey. These initiatives are expected to add substantial value to the global crypto ecosystem, facilitating broader acceptance and integration of cryptocurrencies from rural areas to metropolitan centers.

Digital Assets Desk

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