EMURGO to develop framework for STOs and exchange with Uzbekistan Government

EMURGO Ptd. Ltd. – EMURGO - the official commercial arm of Cardano blockchain - announces the establishment of a blockchain task force with the National Agency of Project Management (NAPM) under the government of the Republic of Uzbekistan, and alongside advisors KOBEA Group & Infinity Blockchain Holdings, to lead the development of a legal framework for security token offerings (STOs) and exchanges (STXs) in the Republic of Uzbekistan. In addition, EMURGO & KOBEA will advise on infrastructure for digital asset banking & exchange, and blockchain education units, amongst others. EMURGO will provide advisory services to develop the framework and business units with the task force & mutually explore the potential for Cardano's third-generation blockchain for infrastructure projects.

This strategic agreement aligns with EMURGO's objectives to drive the adoption of Cardano & blockchain-based solutions and with the Republic of Uzbekistan's objectives to usher in a digital economy development age with cutting-edge, blockchain-based technologies at the forefront.

EMURGO completes its objectives through the provision of its blockchain Education & Academy platform for Uzbekistan's national universities and through its offering of advisory services to develop broad strategic governmental projects leveraging blockchain technology.

"Uzbekistan today, more than ever, is open to innovation. It is a great honor to be able to work closely with the country's government officials to help drive the implementation of blockchain technology. We are glad to provide our advisory services to the Uzbekistan government to build essential blockchain infrastructure & support local universities to train future blockchain experts," said Ken Kodama, EMURGO CEO.