The world’s largest stablecoin Tether has partnered with the UAE’s RAK Digital Assets Oasis (DAO) to drive the adoption of Bitcoin and stablecoins in Ras Al Khaimah.

The two entities will help facilitate crypto payment adoption in the region and design blockchain-focused education programmes.

Through its recently launched educational arm, Tether Edu, the company said it wants to develop initiatives for individuals covering fields such as Bitcoin, blockchain, peer-to-peer technologies, stablecoin adoption, and real-world use cases of crypto.

The cryptocurrency, which is pegged to the US dollar, has been in the news in recent weeks as it tightens the monitoring of how its tokens are used in crypto markets in a bid to combat illicit finance

Tether has collaborated with blockchain data platform Chainalysis to develop a customisable solution for monitoring secondary market activity, a statement read.

(Writing by Bindu Rai, editing by Daniel Luiz)