In a move to enhance financial accessibility across Africa, Tether has strategically invested in Shiga Digital, as announced today. This collaboration aims to provide blockchain-based financial solutions, particularly focusing on cross-border payments and global liquidity access, as reported by Tether.
The partnership will leverage Tether's USD₮ to create a blockchain-based financial infrastructure. This infrastructure will support treasury and foreign exchange (FX) management for industries like oil and gas, both within Africa and internationally. It also aims to enable independent contractors to access foreign currencies and receive global payments with ease.
Shiga Digital is focused on integrating millions of underserved individuals and businesses into the global economy. This aligns with Tether's vision of financial freedom. The digital asset landscape in Africa is evolving, with Morocco's central bank preparing cryptocurrency regulation.
Paolo Ardoino, CEO of Tether, highlighted the transformative potential of stablecoins. Abiola Shogbeni, CEO of Shiga Digital, emphasized decentralization and self-custody. Shiga Digital is developing an on-chain gateway for direct USD₮ transactions.