As an experienced financial analyst, I see this partnership between Tether and RAK Digital Assets Oasis as a strategic move that could bring significant benefits to both parties. Tether’s stablecoin technology is well-established in the crypto market, while RAK DAO aims to become a leading blockchain innovation hub in the region.
The USDT stablecoin issuing company, Tether, has partnered with RAK Digital Assets Oasis.
As a crypto investor, I’m excited to learn that Tether has announced a collaboration with RAK Digital Assets Oasis (RAK DAO) through a Memorandum of Understanding (MoU). This partnership aims to boost the adoption of Bitcoin (BTC) and stablecoin technology in Ras Al Khaimah. Together, we look forward to witnessing the significant strides this alliance will make in promoting digital currencies within the region.
Working together with RAK DAO, Tether will play a role in promoting the use of cryptocurrency payments in the area and creating educational initiatives centered around blockchain technology.
Tether announcement
The RAK DAO organization is spearheading web3 advancements and bolstering the economy in the emirate. By means of its educational wing, Tether Edu, the entity responsible for USDT, the popular stablecoin, will instigate programs catering to diverse skill sets. These initiatives will encompass forward-thinking topics like Bitcoin, blockchain technology, peer-to-peer systems, incorporating stablecoins, and practical applications of cryptocurrencies in everyday life.
“We’re thrilled to partner with RAK DAO through Tether, working together to bring the potential of Bitcoin and blockchain technology to life in this area.”
Paolo Ardoino, CEO of Tether
Furthermore, Dr. Sameer Al Ansari, the CEO of RAK DAO, pointed out that their partnership with Tether signifies a pivotal moment in RAK DAO’s development towards establishing itself as a prominent hub for blockchain innovations.
Using the capabilities of Bitcoin technology and cryptocurrencies, we intend to stimulate economic expansion, promote financial accessibility for all, and establish RAK DAO as a prominent figure in the international digital economy.
Dr. Sameer Al Ansari, CEO of RAK DAO
This month, Tether unveiled plans to team up with Chainalysis, a top-tier blockchain analysis firm, and establish a USDT transaction monitoring system.
Tether will scrutinize transactions in substantial account balances and flag those that may be linked to illicit activities, terrorist funding, or attempts to bypass international restrictions.
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2024-05-14 17:28