Tether Signs MoU With Zanzibar’s eGovernment Authority to Advance Blockchain and Digital Asset Education

Tether has entered into a Memorandum of Understanding (MoU) with the Zanzibar eGovernment Authority (eGAZ) to promote education on digital assets and foster blockchain adoption. The partnership aims to support technological development and boost digital literacy in the region.

USDT Info

Tether is a type of cryptocurrency known as a stablecoin, which is pegged to the US dollar, meaning that for each unit of Tether in circulation, there should be an equivalent amount of dollars held in reserve by the Tether company.

Despite its advantages, Tether stirs up controversy and skepticism within the cryptocurrency community. Periodically, questions arise about whether Tether holds enough dollars in reserve to back all the USDT in circulation. The company claims this to be the case, but its reserves remain opaque. Nevertheless, Tether remains a key component in the global cryptocurrency ecosystem due to its wide usage as a hedging tool and medium of exchange on many cryptocurrency exchanges.