Tether has announced a union of intent with the United Arab Emirates free zone to facilitate adoption and design educational programs on digital assets.
On May 14, Tether announced the achievement of a union of intent with RAK Digital Assets Oasis (RAK DAO), a free zone located in the Emirate of Ras Al Khaimah in the United Arab Emirates, established to support and promote companies operating in the digital assets and emerging technologies sector.
This agreement represents the first step towards launching a series of initiatives to encourage the adoption of Bitcoin and digital assets in Ras Al Khaimah (RAK), the northernmost emirate of the UAE.
Through Tether’s new division, Tether Edu, the company will develop educational initiatives for individuals with varying levels of expertise, covering topics such as Bitcoin, blockchain, peer-to-peer technologies, stablecoin adoption, and real-world use cases of cryptocurrencies.
Tether will collaborate with RAK DAO not only on educational initiatives but also to empower local businesses through new growth and innovation opportunities.
Regarding the agreement, Paolo Ardoino, CEO of Tether, stated:
“Tether is proud to collaborate with RAK DAO to realize the promise of Bitcoin and blockchain technology in the region.
As home to the world’s first and only free zone dedicated to the proliferation of digital asset endeavors, Ras Al Khaimah is in a prime position to become the region’s leading hub of blockchain technology and innovation, and Tether is committed to working with RAK DAO to make this dream a reality.”
Dr. Sameer Al Ansari, CEO of RAK DAO, commented on the synergy with Tether as follows:
“This collaboration with Tether marks a pivotal moment in RAK DAO’s journey towards becoming a leading hub for blockchain innovation. By harnessing the power of Bitcoin technology and cryptocurrencies, we aim to drive economic growth, foster financial inclusion, and position RAK as a global leader in the digital economy.”
“The push for Bitcoin and stablecoins by governments, as demonstrated in the RAK DAO and Tether collaboration, marks a significant shift: Bitcoin and cryptocurrencies are mainstream. This sets a compelling precedent for other governments to embrace the UAE’s innovative approach to incorporating Bitcoin into their financial frameworks, benefiting their economies and citizens,” commented Irina Heaver, Dubai-based lawyer and Managing Partner of NeosLegal, who has been involved in the RAK DAO development and facilitated the collaboration with Tether.
