Tether to Aid Uzbekistan in Developing Digital Som

NAPP of Uzbekistan and Tether have signed a memorandum of understanding to advance blockchain infrastructure in the country.

Tether signs MOU with National Agency of Perspective Projects (NAPP) of the Republic of Uzbekistan’s to explore and promote the development and adoption of #bitcoin, stablecoins, blockchain technology, P2P, and digital asset tokenization in Uzbekistan??https://t.co/XpveWOWP6i pic.twitter.com/jBvxEK7Lf5

— Tether (@Tether_to) March 7, 2024

The collaboration will focus on developing Uzbekistan’s digital currency.

Tether will also assist in enhancing the local regulatory framework for cryptocurrency circulation and asset tokenization. Additionally, educational initiatives are planned to raise public awareness of innovative technologies.

As of August 2023, a working group including NAPP and other stakeholders was examining international experiences in the implementation and application of CBDCs.