Cryptocurrency issuer to help Georgia develop blockchain infrastructure
Tether, the world’s largest issuer of stablecoin, a type of cryptocurrency, will help Georgia develop its blockchain infrastructure. Photo: Ministry of Economy
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Tether, the world’s largest issuer of stablecoin, a type of cryptocurrency, will help Georgia develop its blockchain infrastructure following a memorandum of understanding signed on Wednesday between the company and the country’s Ministry of Economy.
Deputy Minister Irakli Nadareishvili said Tether was interested in investing in Georgia.
For this purpose, the company will create a special fund for local startups, which will help them develop blockchain technology and position Georgia as a country with an attractive ecosystem for technology startups”, he said.
Nadareishvili added the Ministry and the company had also agreed to cooperate in the “educational area”.
Georgian prime minister Irakli Garibashvili and Changpeng Zhao, the CEO of Binance, the world's largest cryptocurrency exchange, on Wednesday discussed the "stable and favourable" business environment of Georgia and "significant opportunities" offered by the country to investors.
Georgian Prime Minister Irakli Garibashvili has offered the CEO of Ripple, a United States-based technology company, to consider launching a company service centre in Georgia, with the offer made at a meeting as part of the World Economic Forum in Davos on Monday.
Successful Georgian startups and achievements of Georgia in the development of the innovation ecosystem were in the focus of meetings between a delegation of FTX Crypto Derivatives Exchange and representatives of the Georgian Agency for Innovation and Technology (GITA) on Friday.
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Georgia is unveiling a Free Industrial Zone in capital Tbilisi, and the opening of the biggest Bitcoin data centre by virtual currency mining giant BitFury.
Georgian Deputy Economy Minister Irakli Nadareishvili on Thursday said development of the domestic capital market was a priority for the Georgian Government and related to one of structural reforms of his Ministry.
The Georgian Agency for Innovation and Technology on Monday presented a new project to enable citizens to acquire the “most-in-demand IT skills” and find employment in “high-paying positions” in the industry.
The Prosecutor's Office of Georgia on Wednesday filed charges against two individuals arrested in connection with robbery of a cryptocurrency exchange office in the capital city of Tbilisi.
Enterprise Georgia, the state agency promoting entrepreneurship, investment and exports, on Monday said it was launching a new programme to improve access to finance for domestic enterprises by promoting the capital market, in particular by stimulating the issuance of securities.