Tether Invests in Shiga Digital for Blockchain Financial Solutions in Africa
Tether , the digital asset firm has invested into Shiga Digital, a pan-African blockchain-based financial solutions firm.
Tether says the deal will help curb financial barriers faced by African businesses, particularly in cross-border payments and accessing global liquidity, by enabling a seamless, blockchain-based financial infrastructure powered by USD�.
According to Paolo Ardoino, CEO of Tether, 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.
The deal will also support treasury and FX management for legacy industries, such as oil and gas, both within and outside the African continent and 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 between Shiga Digital and Tether underscores the vital role of USD� as a stable, accessible, and efficient financial tool for cross-border business operations.
Shiga Digital offers virtual accounts, OTC services, treasury management, and foreign exchange (FX) services tailored to African enterprises.
Shiga Digital shares Tethers vision for a future where financial freedom is not a privilege but a fundamental right. By anchoring its core services on blockchain technology and leveraging stablecoins like USD�, Shiga Digital is helping to democratize traditional finance and bring millions of underserved individuals and businesses into the global economy.
Africas digital asset landscape is rapidly evolving. Recent developments, such as Moroccos central bank moving to prepare a draft law to regulate cryptocurrencies, reflect the continents readiness to embrace blockchain innovation. In addition, there is a growing interest in digital assets across Africa. Organizations are exploring digital currencies for various purposes, including facilitating cross-border payments and storing value to hedge against inflation, indicating a broader shift towards adopting modern financial technologies. Tethers collaboration with Shiga Digital aligns strategically with this effort, empowering African enterprises to overcome these challenges, build greater economic resilience, and participate more fully in the global economy.
Abiola Shogbeni, CEO of Shiga Digital, commented, At Shiga Digital, we believe the future of money is decentralized. We envision a world where Bitcoin becomes the default global currency. Our collaboration with Tether is rooted in this shared vision, as we build a financial ecosystem that empowers users with freedom, security, and resilience.
Shiga Digital is developing an on-chain gateway enabling users to transact directly in USD� for everyday goods and services, eliminating the need to off-ramp into local currencies and bridging economies across borders. Tethers investment supports its broader commitment to expanding blockchain innovation and stablecoin adoption across Africa, accelerating the integration of blockchain technology into practical, day-to-day business operations.
