The stablecoin issuer Tether has suggested that Turkey issue digital tokens for its commodity market

ChainCatcher news, according to Bloomberg, Tether Holdings Ltd. is attempting to persuade Turkey to use digital assets to completely reform the country's boron market, marking the latest sign of the cryptocurrency industry's efforts to leverage the commodities sector for further growth.

Informed sources revealed that the stablecoin issuer Tether has proposed to government officials the creation of digital tokens representing borate minerals using blockchain technology. Tether has also suggested the idea of establishing a digital asset trading platform in Istanbul.

A Turkish government official stated that the boron proposal is currently not feasible, while an official from Turkey's Ministry of Energy indicated that negotiations with Tether are still in the early stages. It is reported that boron products are primarily used in the manufacture of ceramics, detergents, fertilizers, and glass. Turkey's monopoly supplier, the state-owned Eti Maden General Directorate, estimates that the country's boron reserves account for over 70% of the world's total reserves.