Cryptocurrencies
Tether Asks Turkey to Consider Digital Token for Borate Minerals
- Tether pitched officials on creating tokens to represent boron
- Commodity sector offers growth avenues for stablecoin issuer
A cryptocurrency exchange bureau in Istanbul.
Photographer: David Lombeida/BloombergThis article is for subscribers only.
Tether Holdings Ltd. sought to convince Turkey to use digital assets to overhaul the nation’s boron market, the latest sign of the crypto industry linchpin tapping the commodity sector for further growth.
Stablecoin issuer Tether pitched government officials on a proposal to use blockchain technology to create digital tokens that represent borate minerals, people familiar with the matter said, asking not to be named discussing private talks. Tether also raised the idea of establishing a digital-asset exchange in Istanbul, the financial capital, the people said.