Tether, a digital asset company, is investing in Shiga Digital, a platform that provides pan-African access to blockchain-based financial solutions, with a focus on African enterprises, particularly those seeking cross-border payments and global liquidity.
Tether's USD cryptocurrency stablecoin, launched in 2014, will support treasury and foreign exchange market management for legacy industries like oil and gas in Africa and beyond, according to a statement.
“The blockchain-based financial infrastructure will enable independent contractors to access foreign currencies and receive payments for their services globally with ease. In emerging markets where access to reliable international banking services remains limited, the collaboration underscores the vital role of USD₮ as a stable, accessible, and efficient financial tool for cross-border business operations,” said Tether.
“We believe stablecoins are the heartbeat of financial transformation. By collaborating with innovators like Shiga Digital, we aim to deliver financial access and efficiency to African enterprises. Together, we are not just imagining a future powered by blockchain technology, we are building it,” said Paolo Ardoino, CEO of Tether.
Abiola Shogbeni, CEO of Shiga Digital, commented: “We envision a world where Bitcoin becomes the default global currency. In contrast, local currencies may continue to serve as tools for value exchange, and internet-native money will increasingly dominate the broader financial landscape.
“Stablecoins, particularly those pegged to stable assets like the US dollar, will become essential components of everyday transactions and critical elements of financial portfolios, offering a reliable, non-speculative store of value.
“Self-custody will also become the norm, as individuals and businesses demand full control over their assets, rejecting custodial systems that impose unnecessary restrictions. Our collaboration with Tether is rooted in this shared vision, as we build a financial ecosystem that empowers users with freedom, security, and resilience.”
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