14 May 2024 – Tether Operations Limited, the largest company in the digital asset industry, announces the signing of a Memorandum of Understanding (MoU) with RAK Digital Assets Oasis (RAK DAO), which is the first step towards the launch of several strategic initiatives to help foster the adoption of Bitcoin technology and stablecoins in Ras Al Khaimah (RAK), the northernmost emirate in the United Arab Emirates. In collaboration with RAK DAO, Tether will help facilitate crypto payment adoption in the region and design blockchain-focused education programs.

As the world’s first and only common law Free Zone focused on digital and virtual asset companies, RAK DAO is at the heart of the region’s efforts to propel Web3 innovation and foster economic growth in the emirate. Through its recently launched educational arm, Tether Edu, Tether will develop initiatives for individuals of varying skill levels covering cutting-edge fields such as Bitcoin, blockchain, peer-to-peer technologies, stablecoin adoption, and real-world use cases of crypto. 

To date, RAK DAO has attracted interest from more than 100 businesses. As a result, Tether will collaborate closely with RAK DAO on comprehensive initiatives designed to educate and empower local businesses, opening up new avenues for growth and innovation.

“Tether is proud to collaborate with RAK DAO to realize the promise of Bitcoin and blockchain technology in the region,” said Paolo Ardoino, CEO of Tether. “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.”

Commenting on the collaboration, Dr. Sameer Al Ansari, CEO of RAK DAO, stated: “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 DAO as a global leader in the digital economy.”

About Tether Edu

Tether Edu is a global education initiative dedicated to fostering accessibility of digital skills development while promoting self-development and self-realization. As Tether’s educational arm, Tether Edu is responsible for coordinating the various global education programs Tether supports. This platform will provide an innovative educational environment that identifies and implements the latest trends and expertise in specific digital industries.