Tether, one of the world’s largest digital asset company and issuer of the USDT stablecoin, has announced a strategic investment in Shiga Digital, a pan-African fintech platform focused on delivering real-world, blockchain-based financial solutions for African enterprises and enabling businesses to send and receive money globally using Tether’s USDT stablecoin. According to the official announcements on Tether website, the investment amount was not disclosed.
This Development represents a substantial advancement as Tether move to enhance its presence in Africa
What Does Shiga Digital Offer?
Shiga Digital is building a platform that provides African businesses with:
- Virtual accounts
- Over-the-counter (OTC) services
- Treasury management
- Foreign exchange (FX) services
These services are tailored to the unique needs of African enterprises, including those in legacy sectors, Remote workers as well as independent contractors who need to access foreign currencies and receive global payments. By anchoring its services on blockchain and leveraging stablecoins like USDT, Shiga Digital aims to democratize finance and bring millions of underserved Africans into the global economy thereby enhancing financial inclusion and efficiency.
What Industry Leaders Are Saying
Paolo Ardoino, the CEO of Tether, highlighted the transformative potential of stablecoins in Africa’s financial landscape. He stated, “At 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.”
Abiola Shogbeni, CEO of Shiga Digital, commented, stating “At Shiga Digital, we believe the future of money is decentralized. 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 U.S. 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.”
Advancing Cross-Border Payments and Blockchain Adoption Across Africa
Tether has also supported initiatives with regional relevance, including Quidax and an investment in MANSA, a cross-border payment services firm that caters to African businesses. The company says these projects are part of a broader strategy to offer “seamless, blockchain-based financial infrastructure powered by USDT.”
Africa faces longstanding barriers in cross-border payments and access to global liquidity. Many businesses and freelancers struggle with limited access to reliable international banking. This partnership reflects a broader trend: more African organizations are exploring digital assets for cross-border payments and as a hedge against inflation. Morocco, for example, is preparing new crypto regulations, showing the continent’s readiness to embrace blockchain innovation.
