Tether has proposed to the Turkish government the creation of digital tokens backed by borate minerals, aiming to integrate blockchain technology in this initiative. Turkish officials have indicated that discussions are at an early stage, with some skepticism regarding immediate implementation. Tether is also exploring the establishment of a digital asset exchange in Istanbul. Turkey controls over 70% of the world's boron reserves, and it is projected to gain approximately $1.3 billion in boron sales for 2024. Tether's commitment to crypto innovation in Turkey is evident, with their CEO expressing enthusiasm for the country as a growing blockchain hub. Local representatives have been engaging with government officials, including meetings with Turkey's Vice President and Energy Minister to discuss regulatory and investment opportunities in the energy sector. This active participation aligns with Turkey being one of the largest markets for stablecoins, with significant demand driven by local currency volatility and inflation concerns.

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