Tether, the issuer of the USDT stablecoin, is expanding its presence in Turkey through a new partnership with local cryptocurrency firm BTguru. The two companies have signed a memorandum of understanding (MoU) to explore various digital asset-related initiatives in the country, announced on July 2.
BTguru, which specializes in technology and strategy for virtual crypto assets, especially for banks, will work with Tether to develop educational programs about cryptocurrency and blockchain technology for both private and public stakeholders in Turkey.
The agreement also focuses on promoting peer-to-peer (P2P) technology and facilitating discussions with Turkish financial institutions. Additionally, Tether and BTguru will look into tokenizing real-world assets and assessing regional payment network scenarios.
Tether CEO Paolo Ardoino expressed enthusiasm about the partnership, stating that it could lay the groundwork for responsible and informed use of digital assets in Turkey. He highlighted the potential to advance both freedom and education around digital assets in the region.
BTguru partner Can Bukulmez emphasized that the collaboration aims to explore new business opportunities in Turkey’s banking sector and emerging digital asset industries.
Turkey is becoming a major player in the global cryptocurrency landscape, ranking fourth in transaction volume and twelfth in adoption rates, according to Binance. Tether’s move into Turkey comes as the country continues to show strong growth in cryptocurrency adoption, with stablecoin purchases contributing significantly to its GDP, as reported by Chainalysis.
Summary Review: Tether, known for its USDT stablecoin, has partnered with Turkish crypto firm BTguru to enhance digital asset education and explore new business opportunities in Turkey. The collaboration aims to introduce blockchain technology and P2P solutions to Turkish banks and other stakeholders, while also investigating real-world asset tokenization and regional payment networks. This expansion comes as Turkey continues to grow as a key player in the global crypto market, with high transaction volumes and significant stablecoin adoption contributing notably to its GDP.
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