Uzbekistan’s Direct Investment Fund signs memorandum of cooperation with Kobea Group to issue tokens

Uzbekistan’s Direct Investment Fund signed a memorandum of cooperation with South Korea’s Kobea Group to develop projects to raise funds through token issuance. The announcement was reported by Uzreport TV.

Kobea Group has long looked at Uzbekistan. In 2020, the country’s first licensed cryptocurrency exchange, Uznex, launched under the group’s oversight. Kobea Group has also joined Uzbekistan’s blockchain-development efforts.

The parties agreed to cooperate in selecting, implementing and promoting token-issuance projects, and to study the feasibility of introducing crypto assets in Uzbekistan.

In November, residents of Uzbekistan were allowed to buy cryptocurrencies on licensed platforms. Prior to that, they could only engage in asset sales.

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