The largest stablecoin issuer in the world, Tether, will help Georgia build its blockchain infrastructure thanks to an agreement reached with the Ministry of Economy.
To portray Georgia as a desirable ecosystem for technology entrepreneurs, the company will establish a dedicated fund for regional startups.
Assist Georgia
Following the signing of a memorandum of agreement on Wednesday between Tether and the nation’s Ministry of Economy, the stablecoin, a sort of cryptocurrency, will assist Georgia expand its blockchain infrastructure.
Tether was reportedly interested in investing in Georgia, according to deputy minister Irakli Nadareishvili.
- Tether and Georgian Ministry of Economy sign memorandum for stablecoin support.
- Tether reportedly considering Georgia investment, according to the deputy minister.
- Company to create a regional fund for blockchain technology development.
To accomplish this, the company will establish a special fund for regional entrepreneurs, which will aid in the development of blockchain technology and promote Georgia as a nation with a favorable startup ecosystem, according to him.
According to Nadareishvili, the Ministry and the business also decided to work together in the “educational area”.
