Tether expands in UAE, partners with RAK DAO

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

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

“In collaboration with RAK ​​DAO, Tether will help facilitate the adoption of crypto payments in the region and design blockchain-focused educational programs.”

Tether announcement

RAK DAO promotes web3 innovation and fosters economic growth in the Emirate. The company behind the USDT stablecoin, through its education arm Tether Edu, will develop initiatives for people of different skill levels, covering cutting-edge areas such as Bitcoin, blockchain, peer-to-peer technologies, stablecoin adoption and real-world cryptocurrency. Use cases.

“Tether is proud to collaborate with RAK ​​DAO to realize the promise of Bitcoin and blockchain technology in the region.”

Paolo Ardoino, CEO of Tether

Additionally, RAK DAO CEO Dr. Sameer Al Ansari stated that the collaboration with Tether is a milestone in RAK DAO’s journey to become the leading blockchain innovation hub.

“By leveraging the power of Bitcoin technology and cryptocurrencies, we aim to stimulate economic growth, foster financial inclusion and position RAK DAO as a global leader in the digital economy.”

Dr. Sameer Al Ansari, CEO of RAK DAO

Earlier this month, Tether announced that it would implement a USDT transaction tracking system in collaboration with leading blockchain analysis company Chainalytic.

Tether will analyze activity in wallets with large balances and identify transactions potentially related to illegal activities, terrorist financing or used to circumvent international sanctions.