Tether expands in UAE, partners with RAK Digital Assets Oasis

The USDT stablecoin issuing company, Tether, has partnered with RAK Digital Assets Oasis.

Tether mentions signing a Memorandum of Understanding (MoU) with RAK Digital Assets Oasis (RAK DAO) in a blog post. The two organizations will promote the introduction of Bitcoin (BTC) and stablecoin technology in Ras Al Khaimah.

RAK DAO is promoting web3 innovation and driving economic growth in the emirate. Through its educational arm, Tether Edu, the company behind the USDT stablecoin will develop initiatives for people of varying skill levels, covering cutting-edge areas such as Bitcoin, blockchain, peer-to-peer technologies, stablecoin adoption, and real-world cryptocurrency use cases.

In addition, Dr. Sameer Al Ansari, CEO of RAK DAO, noted that the collaboration with Tether marks a turning point in RAK DAO’s journey to become a leading blockchain innovation center.

Earlier this month, Tether announced it would implement a USDT transaction monitoring system in collaboration with Chainalysis, a leading blockchain analytics company.

Tether will analyze activity on large balance wallets and identify transactions potentially related to illegal activity, terrorist financing, or used to circumvent international sanctions.

Source: crypto

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button