September 24, 2023

Wirex Sign MoU With Uzbekistan For Blockchain Implementation

Wirex, a global finance firm in the blockchain sector, revealed that it signed a Memorandum of Understanding with the Uzbekistan Immediate Financial Investment Fund. This agreement means that Wirex will support the country as it uses blockchain technology for different operations. 

Wirex To Foster Growth In The Blockchain And Finance Sector 

Meanwhile, this partnership is coming at a time when Uzbekistan is fighting to be a giant in using financial engineering. Recently, the country unveiled a regulatory framework to guide its blockchain sector.

The country hopes that the latest partnership will capture the attention of institutional and retail investors. Also, Wirex will offer financial services to different jobs in the country.

The aim is to increase the growth and development of the country’s blockchain and finance sector. Wirex would also allow 35 million people living in Uzbekistan to witness the merit of blockchain technology.

Atabek Nazirov, Uzbekistan Direct Financial Commitment Fund’s Director, made the following statement:

“Uzbekistan is situated at the heart of Central Aisa and has cultures laced by the Terrific Silk Street. Also, the country has played a major role in growing the region financially.”

However, Nazirov advised that the country use all the resources available in the fintech sector. He also mentioned using DLT (distributed ledger technology) and blockchain. 

Wirex is a global expert and a figure among other leaders in the fintech industry. The company has regulatory knowledge in a number of different regions. 

Wirex To Enrich Uzbekistan’s Financial System 

Nazirov added that the nation has what it takes to use blockchain tech. The director mentioned the latest regulatory framework for blockchain usage. Additionally, Nazirov said the country is happy to partner with Wirex on its new blockchain development. 

While speaking on the recent development, Svyatoslav Garal, Wirex APAC’s Director, said the firm had gathered enough info to develop blockchain tech. Besides, its platform is among the most effective in the world.

Garal added that this aligns with the company’s plans. Also, it is an excellent achievement for Uzbekistan, Wirex, and the entire blockchain community. 

Furthermore, the director said the company is set to help enrich the country’s financial ecosystem. It also has plans to expand such services to other regions.

Meanwhile, Wirex is a global payment network and controlled institution that has established new standards in the online payments space. In 2015, the company launched the world’s first crypto-supported payment card, allowing customers to invest in crypto and traditional currencies easily.

Meanwhile, Uzbekistan is not the only country fighting for blockchain development. South Korea has also partnered with various entities such as Binance to foster blockchain development.

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