According to Bloomberg, the issuer of USDT is Tetherproposed the use of digital tokens in the trade of boron minerals, an important natural resource in Turkey. The move corresponds to making Turkey’s trade faster and more efficient by integrating its rich boron reserves with digital assets. Türkiye, world boron reservesSince it owns 73 percent of the company, it can consider this offer as a global market opportunity.
Turkey’s Boron Wealth
Türkiye, boron miningIt is the world leader in Eskişehir, Kütahya, Balıkesir and bursaThe boron deposits in Turkey constitute the country’s largest mineral resources. Boron minerals such as tincal and colemanite are intensively mined in these regions. Especially EskisehirWhile the Kırka deposit located in is rich in tincal, Kutahya-Emet and Balikesir-Bigadiç draws attention with its colemanite reserves. In addition, the ulexite reserve in Bigadiç has a significant economic potential.
The production and trade of boron and boron products in Turkey is carried out by Eti Maden in accordance with Law No. 2840. Eti Maden produces many refined boron products such as Borax Pentahydrate, Borax Decahydrate and Boric Acid and offers them to the world markets. As of 2017, the company’s annual refined boron production capacity reached 2.7 million tons. This large production capacity has made Turkey a global power in boron products.
Industrial Use of Boron Products
Boron products TürkiyeIt is widely used in various sectors. While the glass and ceramic industries stand out as the largest consumers of boron products, they also have a significant share in areas such as cleaning, agriculture and glue. Eti MadenIt fully meets Turkey’s domestic market demands and also has a wide customer network around the world.
Eti Maden’s success contributes to Turkey strengthening its place in international trade. The company ranked 15th among Turkey’s largest exporters in 2016 and rose to 14th place among companies exporting to the most countries. This situation once again reveals the economic benefits of Turkey’s boron wealth.
Tether’s proposal can be interpreted as a step towards integrating Turkey’s boron reserves into the field of trade with digital assets. The use of digital tokens can offer new opportunities to Turkey by accelerating the global trade of boron products. With this initiative, Türkiye can further increase its role in the boron industry.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
