New Strategic Partnership: Tether and RAK DAO
Date: 2024-05-14 Author: Oliver Abernathy Categories: BLOCKCHAIN, BUSINESS
Tether, known for its USDT stablecoin, has announced a partnership with RAK Digital Assets Oasis (RAK DAO) in the United Arab Emirates. This agreement is aimed at introducing blockchain technologies and cryptocurrency solutions, as well as conducting educational initiatives in the region.
The first step towards development
As part of the Memorandum of Understanding (MoU) signed between Tether and RAK DAO, several strategic projects are expected to be implemented. This includes the introduction of blockchain technology, the development of stablecoins, the expansion of cryptocurrency payments and educational programs in Ras Al Khaimah, the northernmost emirate of the UAE.
Vision of the future
According to the head of Tether, Paolo Ardoino, cooperation with RAK DAO will help realize the prospects of Bitcoin and blockchain technology. As the world's first digital asset free zone, Ras Al Khaimah represents a significant opportunity for innovation and technology development, and Tether is committed to actively participating in this process.
New opportunities in education
RAK DAO, which is a free economic zone focused on Web3 projects and virtual assets, provides an excellent platform for the implementation of Tether Edu projects. This Tether division will develop and implement educational programs for a wide audience with different skill levels.
The path to the digital economy
According to a statement by RAK DAO CEO, Samir Al Ansari, the collaboration with Tether marks a new stage in the development of Ras Al Khaimah as an innovation hub. By harnessing the potential of Bitcoin and other cryptocurrencies, RAK DAO aims to stimulate economic growth, improve financial inclusion and establish its position as a global leader in the digital economy.
Tether's new partnership with RAK DAO comes amid a number of other investment moves by the company, including a $200 million investment in biotech company Blackrock Neurotech and support for CityPay.io.
