15 April 2024 – Tether, the largest company in the digital assets industry, and Fuze, a leading digital assets infrastructure provider with offices in Abu Dhabi, Dubai, and Istanbul, have signed a Memorandum of Understanding (MoU) to establish the terms of a collaboration on educational initiatives within the digital asset realm, with a particular focus on Turkey and the Middle East.
This MOU signals a pivotal moment in the advancement of digital asset awareness and understanding across the region. Through these cooperation efforts, Tether and Fuze aim to address various facets of education around digital asset space, encompassing cross-border payment solutions, compliance, regulatory framework development, and education for local financial institutions.
In pursuit of these objectives, this collaboration will see the two companies undertaking a range of collaborative endeavors which include educational campaigns to promote the adoption of digital assets such as Bitcoin, Blockchain, and Stablecoins like Tether (USDT) to facilitate cross-border payments. These initiatives will be strategically designed to highlight the efficiency and accessibility benefits of using digital assets in a compliant manner for businesses and individuals across Turkey, the Middle East, and North Africa.
Tether and Fuze will also analyze the development of programs and workshops aimed at enhancing awareness and understanding of digital assets and blockchain technology among local financial institutions and individuals in the aforementioned regions. These efforts will align with evolving regulatory requirements and standards to ensure compliance in the dynamic regulatory landscape. Joint strategies will be designed to promote educational initiatives and workshops, demonstrating a commitment to ethical and responsible educational practices.
Additionally, these strategies will prioritize educating merchants and businesses on the practical utility of digital assets like Bitcoin and Tether for everyday transactions, aiming to increase awareness and adoption of digital assets. The initiatives will also include the engagement of local and regional banks and financial institutions to educate them on the benefits of utilizing stablecoins and digital assets for their customers, empowering financial institutions with the knowledge and tools necessary to leverage digital assets effectively.
"As we team up with Fuze, we're thrilled to be part of a movement that brings digital assets within reach of people across Turkey, the Middle East, and North Africa,” said Paolo Ardoino, CEO of Tether. “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."
Commenting further on the collaboration, Mo Ali Yusuf, Co-Founder and CEO of Fuze said, “We’re proud to team up with the Tether team who share our vision that digital assets will power the future of finance. By educating stakeholders at all levels, we can accelerate the digital assets landscape and ensure that everyone from institutions to end consumers benefit from the vast opportunities presented by well-managed, secure, and trusted digital assets.”
FAQs
• 2 mins read. Tether, the issuer of the biggest stablecoin, is under scrutiny for alleged connections to terrorist groups and human traffickers. USDT has become a favored currency among bad actors due to its stable value and the perceived anonymity of transactions.
Is it possible to get free USDT? ›
Top crypto assets such as bitcoin can be mined and get rewarded at the end. This is quite expensive and can't be termed as 'getting it for free. Meanwhile, USDT on its own can be earned for free by completing easy tasks. You can receive a USDT for free in your portfolio when someone sends you as a gift.
How long do Tether withdrawals take? ›
In general, Tether withdrawals on Coinbase Pro are typically processed within a few minutes to a few hours. However, it is important to note that there may be delays during times of high network activity or if additional security measures are required.
Is Tether 100% safe? ›
For a full list of supported blockchains and protocols, please see our Supported Protocols Page. Every Tether token is 100% backed by Reserves, which includes traditional currency, cash equivalents, and other assets, including receivables from loans made by Tether to third parties.
Why is Tether bad? ›
* **Lack of Transparency:** Tether has been criticized for not being transparent enough about its reserves and the assets backing USDT. There have been questions about whether the company has enough assets to fully back the value of all USDT in circulation.
Who is behind the Tether? ›
Who Are the Founders of Tether? (History of USDT) Tether (USDT) was originally launched on October 6th, 2014 as Realcoin by Brock Pierce, Reeve Collins, and Craig Sellars (a member of the Omni Foundation).
How do you make money from USDT? ›
How to earn money with USDT? Once you have your USDT secure in a crypto wallet, you can send the asset to a cryptocurrency exchange for trading, use it as a store of value, or earn up to 18% interest on your holdings via crypto staking.
How does USDT stay at $1? ›
Tether is a cryptocurrency that attempts to maintain a value peg to an underlying currency such as the dollar or euro. It does this by keeping enough actual currency or equivalents in reserves that the cryptocurrency holds the same value as the fiat currency.
Is the USDT mining app real or fake? ›
USDT mining is a scam.
How do I get my money out of Tether? ›
Tether withdrawal
- Navigate to your Wallet and click the Withdraw button.
- Select Tether wallet in the “Withdraw from” field.
- Select withdrawal address or add a new withdrawal address. ...
- Enter the amount of Tether you wish to withdraw.
- Click Review withdraw button.
- A confirmation screen will pop up.
To withdraw USDT to a bank account, you can transfer your USDT to an exchange that supports the withdrawal of USDT to a bank account. Then, you can initiate a withdrawal request and provide the necessary information, such as the bank account number, name, etc. The withdrawal process may take a few days to complete.
How to turn USDT into cash? ›
How to sell Tether
- Create your free Kraken account. Verify your details to get started.
- Send USDT to your Kraken account. Deposit USDT in your secure Kraken account.
- Sell Tether instantly. Enjoy ultra-fast USDT transactions & withdraws.
Tether Limited is owned by the British Virgin Islands–based company iFinex Inc., which also owns the Bitfinex cryptocurrency exchange. As of January 2024, Tether's website lists fourteen protocols and blockchains on which Tether has been minted.
Should I keep my money in USDT? ›
Guarding Against Inflation: Unlike regular money that can lose value due to inflation, USDT is tied to the US Dollar, preserving the value of your savings over time. Earn Interest: With a platform like Busha, we allow you to make money on your USDT, offering an extra way to earn without actively doing much.
Is USDT real money? ›
Tether (USDT) is a digital currency that functions as a 'stablecoin. ' Stablecoins represent the value of traditional currencies. Tether, in particular, is pegged to the value of the United States dollar (USD). Each USDT token is theoretically backed by an equivalent amount of dollars held in reserves.
What is the Tether explained? ›
Tether was created as a digital token that can be used across blockchains. As one of the pioneers of the stablecoin concept, Tether offers stablecoins tied to several different fiat currencies, including the US dollar (USDT), Euro (EURT), Mexican pesos (MXNT) and Chinese renminbi (CNHT), as well as gold (XAUT).
Is Tether money laundering? ›
Tether: route for money laundering
Tether has also emerged as one of the leading payment methods for money launderers and fraudsters operating in south-east Asia, the UN has warned.
What is the story of Tether? ›
The precursor to Tether, originally named "Realcoin", was announced in July 2014 by co-founders Brock Pierce, Reeve Collins, and Craig Sellars as a Santa Monica–based startup. The first tokens were issued on 6 October 2014, on the Bitcoin blockchain. This was done by using the Omni Layer Protocol.
What is the issue with Tether crypto? ›
Furthermore, Consumers' Research says that Tether has been involved in questionable practices in the past. They point to a 2019 investigation in which New York authorities found that Tether allegedly moved hundreds of millions of dollars to cover up an $850 million shortfall in client funds.
