According to Bloomberg, Tether, the company behind the largest stablecoin USDT, made a move into Turkey.
According to the news, Tether proposed tokenization of boron mines in Turkey.
Tether has proposed to Turkish authorities that it use blockchain technology to tokenize borate minerals, primarily used in ceramics, detergents, fertilizers and glass, in order to modernize the market.
Turkey holds more than 70% of the world's boron reserves, while Tether's bid also includes setting up a digital asset exchange in Istanbul.
The report said talks between Tether and Turkey were still in the early stages. Among those Tether spoke to Bloomberg were Vice President Cevdet Yılmaz, Energy and Natural Resources Minister Alparslan Bayraktar and Eti Maden General Manager Yalçın Aydın.
*This is not investment advice.