The global leader in the digital asset, Tether, has announced its strategy to invest in Shiga Digital, a pan-African blockchain-based financial services platform. This development aims to reshape Africa’s digital finance ecosystem, industry issuer of the world’s most widely used stablecoin.
The inter-continent partnership is set to bridge critical financial gaps by providing blockchain-powered financial tools that are practical, accessible, and tailored to the African markets. The Shiga Digital’s suite of services which include virtual accounts, over-the-counter (OTC) trading, foreign exchange (FX) services, and treasury management will foster African businesses and grant freelancers a seamless access to global liquidity and cross-border payment infrastructure.
This collaboration is particularly significant in regions where traditional banking systems fall short in supporting international transactions and reliable currency exchange. By leveraging USD₮, Tether’s stablecoin pegged to the U.S. dollar, the initiative aims to provide a stable and efficient financial alternative to millions of underserved users and enterprises on the continent.
Tether CEO Paolo Ardoino emphasized the transformative potential of the partnership, stating, “Stablecoins are the heartbeat of financial transformation. Our collaboration with Shiga Digital is about delivering reliable financial access to African enterprises, making blockchain finance a practical reality.”
For African economies frequently impacted by inflation and currency volatility, stablecoins like USD₮ offer a non-speculative, stable store of value. Shiga Digital’s upcoming on-chain payment gateway will allow users to transact directly in USD₮ for everyday needs, bypassing the need to convert into local currencies—making blockchain finance in Africa more accessible than ever.
Meanwhile, the CEO of Shiga Digital, Abiola Shogbeni, added, “We believe the future of money is decentralized. Our partnership with Tether is about building a secure, open financial system where individuals and businesses are empowered with financial freedom and control.”
This announcement is coming amid the increasing interest in cryptocurrency regulation in Africa, with countries like Morocco moving to draft crypto legislation. Across the continent, businesses are exploring digital currencies for cross-border commerce and as a hedge against inflation.
By aligning with Shiga Digital, Tether is reinforcing its commitment to supporting blockchain innovation in Africa, enabling local businesses to thrive in a globally connected financial environment.
This strategic investment marks a turning point in Africa’s journey toward financial inclusion, digital asset adoption, and economic empowerment, ushering in a future where financial freedom is not just a possibility, but a right.
