Tether, the famous company that issues and manages the world’s leading stablecoin (USDT), has launched the so-called Blockchain Education Initiative in the Philippines.

The Blockchain Education Initiative, an initiative signed by Tether

Promoting financial literacy on stablecoins, Bitcoin, and blockchain technology is the goal of the Blockchain Education Initiative.

With regard to the project in the Philippines particularly, Coins.ph will create a number of customised educational courses for a wide range of learners in order to help Filipinos learn about finance.

Workshops, internet advertisements, and interactive tests will all be a part of these educational initiatives, which aim to raise public knowledge of digital assets and their possible advantages.

The Philippines' Blockchain Education Initiative will target a variety of demographic groups, including financial professionals like bankers and fintech companies as well as Filipino expatriates seeking effective remittance alternatives.

Additionally, pawn shop owners and patrons as well as inquisitive individuals interested in the fundamentals of digital currency.

The Philippines and Tether

Tether has made a long-term commitment to making instructional materials more widely accessible in order to encourage awareness of and safe use of blockchain-based digital assets.

In reality, the company has already launched other partnerships with the goal of raising awareness and understanding of blockchain technology and stablecoins in Thailand, Georgia, Uzbekistan, and several other countries of Africa, where they are already actively engaged in similar activities.

The objective is to provide people with the information and abilities needed to succeed in the cryptocurrency space and adopt cutting-edge innovations like peer-to-peer networks and stablecoins.

Coins.ph was selected for the Philippines since it is one of the leading cryptocurrency exchanges in the nation.

It is noteworthy the trade pair that has the biggest trading volumes on Coins.ph is the one that pairs the local currency, the Philippine peso, with USDT. This trade pair alone has more volume than the whole of the other three major trading pairs, ETH/PHP, USDC/PHP, and BTC/PHP.

The comment of the two CEOs

The CEO of Tether, Paolo Ardoino, stated:

“THE PHILIPPINES IS A NATION RICH IN POTENTIAL FOR THE ADOPTION OF DIGITAL ASSETS. THROUGH THIS COLLABORATION WITH COINS.PH, WE HOPE TO PROVIDE FILIPINOS WITH THE KNOWLEDGE AND TOOLS TO NAVIGATE THE EXCITING WORLD OF BLOCKCHAIN TECHNOLOGIES. TETHER IS PROUD TO LEAD A MOVEMENT THAT COMBINES CUTTING-EDGE TECHNOLOGY, EDUCATION, AND FINANCIAL INCLUSION.”

The CEO of Coins.ph, Wei Zhou, has added:

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The Philippines and cryptocurrencies: Tether drives innovation with the Blockchain Education Initiative

The relationship between the Filipino government and cryptocurrencies has not always been idyllic.

Despite several attempts to attract crypto and blockchain companies to the territory, and despite the Philippines having over 115 million inhabitants, the country has never become a true crypto hub.

It probably suffers from competition in Southeast Asia from Singapore, which, although very small, has attracted many crypto companies after the Chinese ban.

For example, the USDT/PHP trading pair on Coins.ph reaches just 4 million dollars per day, so the Filipino market is clearly a marginal market in the crypto sector.

However, Tether’s goal is to spread knowledge of new blockchain and crypto technologies in countries where they are growing, such as Thailand, Georgia, and Uzbekistan, without focusing too much on the extent of their current usage.

In just 10 years, the GDP of the Philippines has increased from 284 to 417 billion dollars, making it one of the fastest-growing countries in Southeast Asia from this point of view.

It is therefore possible that in the coming decades it could also become an interesting market for the crypto sector,

especially if it continues to grow at this pace.