Tether, the issuer of the world’s largest stablecoin, USDT, announced a strategic investment in Shiga Digital, a startup focused on delivering blockchain-based financial solutions across Africa. While the financial terms of the investment were not disclosed, Tether stated that the collaboration aims to address long-standing financial hurdles for African businesses, particularly in cross-border payments and accessing global liquidity.
Shiga Digital’s platform offers “pan-African access to blockchain-based financial solutions,” including virtual accounts, OTC services, treasury management, and foreign exchange (FX) services, according to Tether’s statement. This partnership will leverage USDT to enable a seamless, blockchain-powered financial infrastructure. Tether also noted that this will support treasury and FX management for traditional industries like oil and gas, both within and outside Africa.
This move underscores Tether’s growing interest in the African market. Earlier this year, the company collaborated with African cryptocurrency exchange Quidax. Tether has also initiated a Bitcoin mining program and invested in MANSA, a cross-border payment services firm with African clientele.
“Africa’s digital asset landscape is rapidly evolving,” Tether said, citing developments like Morocco’s central bank preparing cryptocurrency regulations as a sign of the continent’s readiness for blockchain innovation and a growing interest in digital assets.
Tether CEO Paolo Ardoino commented on the investment, stating, “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.”
Shiga Digital, with a small social media presence and fewer than 10 employees, is based in Abu Dhabi, according to its LinkedIn profile.