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Tether joins forces with Fuze for educational venture in Turkey and MENA

tether-joins-forces-with-fuze-for-educational-venture-in-turkey-and-mena
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Tether joins forces with Fuze for educational venture in Turkey and MENA

Stablecoin issuer Tether is teaming up with Fuze to educate individuals and financial institutions in Turkey and the Middle East about crypto.

Tether, the company behind the largest stablecoin by market value, has signed a Memorandum of Understanding (MOU) with Fuze, a crypto infrastructure provider, to promote crypto education in Turkey and the Middle East in a bid to expand awareness and understanding of digital assets.

In a press release on Apr. 15, Tether said the partnership will focus on various aspects of crypto education, including cross-border payment solutions, regulatory compliance, framework development, and financial institution training.

Joint educational campaigns will encourage the adoption of crypto like Bitcoin, the blockchain technology, and stablecoins like USDT for cross-border transactions. These efforts target businesses and individuals across Turkey, the Middle East, and North Africa.

“Our collaboration isn’t just about technology; it’s about empowering individuals, businesses, and financial institutions to navigate the evolving landscape of finance with confidence and clarity.”

Tether CEO Paolo Ardoino

While Tether suggests engagement with local and regional lenders, specific details regarding the educational training program’s participants remain undisclosed. Fuze CEO Mo Ali Yusuf shared Ardoino’s sentiment, saying the program hopes to ensure that “everyone from institutions to end consumers benefit from the vast opportunities presented by well-managed, secure, and trusted digital assets.”

The initiative marks Tether’s second educational campaign this year, following an earlier Memorandum of Understanding with Uzbekistan’s National Agency of Perspective Projects, aiming to position the republic “as a central hub for peer-to-peer and blockchain technology.”

Meanwhile, Turkey is strategizing to exit the Financial Action Task Force’s “grey list” by imposing more regulatory oversight on crypto. According to local representatives of the crypto market, Ankara is weighing a new regulatory regime to prevent the “abuse of the system,” focusing on licensing standards, capital adequacy requirements, and compliance metrics for custody services such as proof of reserves. However, the timeline for these regulatory changes remains unclear so far.