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    Tether Invests in Shiga Digital to Power Africa’s On-Chain Finance Future

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    Highlights:

    • Tether has invested in Shiga Digital to assist with developing blockchain-based services across Africa.
    • Through this initiative, African firms can send and receive money across the globe using USDT.
    • Africa’s crypto growth sees increased focus on stablecoins and blockchain integration.

    Tether has made a strategic move to invest in Shiga Digital, which aims to deliver blockchain-based financial services designed for African countries. The collaboration allows Tether’s USDT stablecoin to be offered to businesses that want streamlined ways to make cross-border transactions and liquidity access.

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    The platform developed by Shiga Digital aids African enterprises with OTC services, FX, virtual accounts, and treasury tools. With the support of Tether, the company tries to resolve long-standing difficulties in the financial sector across Africa.

    The partnership helps contractors, legacy industries, and remote workers as they can use digital currencies for their financial transactions without needing to use banks. This offers reliable financial services in real time to people whose banking systems are not effective.

    Shared Vision for Blockchain-Powered Inclusion

    Paolo Ardoino, CEO of Tether, considers the joint effort to be a step toward bringing more financial services to users via blockchain. He stated that the collaboration with companies like Shiga Digital supports the adoption of stablecoins. He also noted that the move would bring about faster and better access to commerce.

    On the other hand, Abiola Shogbeni, CEO of Shiga Digital, stated that this partnership supports the company’s vision of a decentralized financial future. He remarked that internet-native money keeps gaining popularity. For instance, he suggested that stablecoins, like USDT, will have a significant place in regular investments and daily transactions, mainly in markets that are still developing.

    Shogbeni also noted that self-custody will soon be the usual option, as users look to manage their assets by themselves. Collaborating with Tether will support the future by enabling users to rely on tools that are not controlled by custodial systems or centralized gatekeepers.

    Advancing Cross-Border Infrastructure with Stablecoins

    Shiga Digital users are able to use USDT directly for transactions, which means they do not have to convert it into local currencies. Additionally, it enables easy online transactions of goods and services and helps businesses avoid FX inefficiencies.

    In addition, the investment goes into key infrastructure for established areas like oil, gas, and agriculture. Because of advanced treasury and payment systems, these industries can move and secure their capital more efficiently. Shiga Digital is located in Abu Dhabi with a limited team. However, it offers high-quality services to African businesses struggling with outdated financial systems. Tether helps to bring more finance into the real world through its support of blockchain technology.

    This is part of a series of initiatives Tether has done in Africa. It has previously collaborated with Quidax and MANSA. As a result of this investment, Tether has a stronger position as an essential part of Africa’s digital financial growth.

    Africa’s Transition Toward Digital Asset Utility

    As nations in the African region look into crypto regulation, interest in digital currencies is on the rise. Companies are using token-based methods to avoid the effects of inflation and send payments internationally. Consequently, Shiga Digital’s growth is observed in this shift. With this on-chain gateway, Shiga Digital provides an example for local businesses to conduct their business in digital dollars. With Tether’s investment, this method makes it easier for people and companies to transfer their money safely and efficiently.

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