On June 28, the US government of Georgia signed a memorandum of understanding (MoU) with stablecoin issuer Tether to develop blockchain infrastructure and peer-to-peer (P2P) networks in the state.

The partnership will aim to strengthen Georgia's ambition to become a center for blockchain technology and P2P networks, by promoting relevant financial instruments, attracting interest from international investors and Focus on building infrastructure to develop a creative startup ecosystem.

“The cooperation between Tether and Georgia will go beyond startups and education. The parties will jointly promote the development and implementation of a strong and autonomous financial and communications system," the press release stated.

To strengthen the blockchain ecosystem, the parties also work closely with local academic institutions such as the University of Business & Technology (BTU), to develop educational initiatives. These initiatives aim to equip students and professionals with the necessary knowledge and skills to thrive in the blockchain industry.

Exciting news!#Tetherand the Government of Georgia are teaming up to make Georgia a global powerhouse in #bitcoin, peer-to-peer communications, and blockchain technology.Read more: https://t.co/RpdYfHnfhO pic.twitter.com/ywwiu8edno

— Tether (@Tether_to) June 28, 2023

This is not Tether's first collaborative effort in Georgia. Over the years, many cryptocurrency companies have worked closely with governments to promote blockchain technology. In most cases, collaboration provides government agencies with technological insights, driving the emergence of positive regulatory frameworks for the industry.

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