Today, Tether announced that it is partnering with Medoo to open a Blockchain Academy in Vietnam. This academy will offer generalized Web3 knowledge as well as more specific professional skills.
Vietnam recently announced a “national blockchain strategy,” and the nation may serve as a friendly jurisdiction and valuable long-term relationship with the company.
Tether Invests in Vietnam
Tether, one of the world’s leading stablecoin issuers, is setting its sights on Vietnam. According to a new press release, the firm is partnering with Medoo, a Vietnamese educational ecosystem, to create a new Blockchain Academy. Tether’s CEO Paolo Ardoino claimed that this academy will help give people valuable tools to participate in this market:
“This collaboration demonstrates the transformative potential of blockchain technology while reinforcing Tether’s commitment to emerging markets. By championing blockchain education, we aim to empower communities and showcase the profound impact of stablecoins and blockchain on how we learn, earn, and work,” said Ardoino.
For years now, Vietnam has overperformed in terms of cryptocurrency adoption and interest in digital assets, and Tether hopes to harness that interest. The academy will offer both introductory courses in general blockchain knowledge and specialized professional skills. It will also partner with at least one Vietnamese university.
For Tether, this partnership with Vietnam is part of a broader strategy to pursue friendly jurisdictions. Last October, the nation announced a “national blockchain strategy,” signifying greater investment in the sector.
The long-term goal is to transform Vietnam into a regional blockchain hub. Tether, for its part, could foster a good relationship here.
Tether’s prospects in several other critical markets have been on thin ice recently. In December, the firm significantly withdrew from the EU thanks to the new MiCA legislation. This was not catastrophic to the firm’s bottom line, but it anticipated the move and conducted months of preparation. In the aftermath, however, the US might kick it out too.
This January, the company moved its headquarters to El Salvador, signaling its intention to expand into the Latin American market.
Tether may be cultivating strong relationships in Vietnam so that it may carry out a similar role as an entrepôt to the broader region. With the firm facing regulatory hurdles in several major markets, new areas of interest may provide key help.
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