Tether Proposes to Launch Boron-backed Tokens to Turkey

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Tether, the company behind the largest cryptocurrency stablecoin in the world, has suggested to the Turkish government the creation of tokens that represent borate minerals.

Bloomberg reported on October 24 that Tether has proposed the use of blockchain technology to create digital tokens backed by boron and has brought it to the attention of Turkish officials.

While one Turkish official stated that Tether’s boron proposal is not currently feasible, an official from the Energy Ministry claimed that discussions with Tether are in the early stages.

Additionally, the report mentioned that Tether also proposed the idea of establishing a digital asset exchange in Istanbul.