Tether, the firm behind the largest stablecoin USDT ($1.00), has signed a Memorandum of Understanding (MoU) with the leaders of Da Nang City. According to a statement released on Wednesday, the initiative will focus on developing digital infrastructure in the municipality. 

Furthermore, the stablecoin issuer disclosed that the collaboration will help introduce innovative governance models. Tether added that it will join forces with the leadership of Da Nang to research and design a system that will aid the seamless integration of blockchain technology, digital assets, and peer-to-peer payment systems. 

As announced, the two partners aim to use global standards to implement transparent and efficient digital governance tools. Likewise, the announcement indicated that Tether will provide the city with consultancy services regarding digital asset regulation. 

Through this role, the firm will propose policies for tokenized real-world assets, sandbox programs, and blockchain technology to the People’s Committee of Da Nang City. Therefore, the stablecoin issuer aims to leverage its global market experience and assist the city in setting up regulatory standards. 

Tether went on to describe the step as important towards ensuring transparency and investor protection in the new crypto hub. Meanwhile, the stablecoin issuer emphasized the need for blockchain education in the city. 

The partners aim to put in place educational programs that center on blockchain technology, peer-to-peer technologies, and many others. More so, Tether mentioned that it will collaborate with universities and research institutions across Vietnam to help the Da Nang populace harness the strength of blockchain technology. 

Similarly, the company registered its confidence in the project to improve financial inclusion and modernize transactional ecosystems. 

Side note 

The CEO of Tether, Paolo Ardoino through the statement described Dan Nang City as an emerging future of digital governance in the region. The CEO said the city has a clear vision of how technology can improve welfare and strengthen governance. 

He added that the collaboration reflects the firm’s goal of building inclusive, efficient, and resilient digital ecosystems. Likewise, the Standing Vice Chairman of Da Nang People’s Committee, Ho Ky Minh said the city is open to establishing itself as a reliable destination for global technology and financial innovation. 

It is worth mentioning that the partnership emerged shortly after Tether introduced its open-source Web3 Development Kit (WDK). According to Binbits, the tools aim to empower individuals with a tool to design secure multi-chain wallets. 

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