KEY TAKEAWAYS
- Tether invests in Shiga Digital to enhance blockchain-based financial solutions across Africa.
- The partnership aims to overcome financial barriers for African businesses, focusing on cross-border payments and global liquidity access.
- Shiga Digital will leverage Tether’s stablecoin, USD₮, to provide seamless financial infrastructure for African enterprises.
- This collaboration reflects Africa’s growing interest in digital assets and blockchain technology as tools for economic empowerment.
On June 5, 2025, Tether, a leading company in the digital asset industry, announced a strategic investment in Shiga Digital. Shiga Digital is a modern platform that provides pan-African access to blockchain-based financial solutions. This collaboration aims to address financial barriers faced by African businesses, particularly in cross-border payments and accessing global liquidity.
Shiga Digital offers a range of services, including virtual accounts, over-the-counter (OTC) services, treasury management, and foreign exchange (FX) services tailored to African enterprises. The partnership with Tether will enable a seamless, blockchain-based financial infrastructure powered by USD₮, Tether’s stablecoin. This infrastructure will support treasury and FX management for legacy industries, such as oil and gas, both within and outside Africa.
Empowering African Enterprises with Blockchain Technology
The collaboration between Tether and Shiga Digital is set to empower African enterprises by providing access to foreign currencies and enabling global payments for independent contractors. In regions where reliable international banking services are limited, this partnership highlights the role of USD₮ as a stable and efficient financial tool for cross-border operations.
Shiga Digital shares Tether’s vision of democratizing traditional finance through blockchain technology and stablecoins. By anchoring its services on blockchain technology, Shiga Digital aims to bring millions of underserved individuals and businesses into the global economy.
Africa’s Growing Interest in Digital Assets
Africa’s digital asset landscape is rapidly evolving, with developments such as Morocco’s central bank preparing a draft law to regulate cryptocurrencies. This reflects the continent’s readiness to embrace blockchain innovation. Organizations across Africa are exploring digital currencies for cross-border payments and as a hedge against inflation, indicating a shift towards modern financial technologies.
Tether’s investment in Shiga Digital aligns with these efforts, empowering African enterprises to overcome challenges, build economic resilience, and participate more fully in the global economy. Paolo Ardoino, CEO of Tether, stated, “By collaborating with innovators like Shiga Digital, we aim to deliver financial access and efficiency to African enterprises.”
Abiola Shogbeni, CEO of Shiga Digital, emphasized the importance of stablecoins in everyday transactions and financial portfolios. He noted that the collaboration with Tether is rooted in a shared vision of building a financial ecosystem that empowers users with freedom, security, and resilience.
Shiga Digital is developing an on-chain gateway that allows users to transact directly in USD₮ for everyday goods and services, eliminating the need to convert to local currencies. Tether’s investment supports its broader commitment to expanding blockchain innovation and stablecoin adoption across Africa.
The full announcement can be read here.
Why This Matters: Impact, Industry Trends & Expert Insights
Tether’s recent investment in Shiga Digital marks a strategic move to enhance Africa’s blockchain-based financial ecosystem, aiming to address financial barriers such as cross-border payments and global liquidity access for African businesses.
Recent industry reports indicate the rapid growth of stablecoin use in Africa, driven by economic challenges like currency volatility and high inflation. This aligns with Tether’s investment in Shiga Digital, which is set to leverage stablecoins to facilitate cross-border transactions and financial services across the continent.
As per insights from Cointelegraph, blockchain technology in Africa is increasingly being utilized to tackle financial and energy challenges. This supports the significance of Tether’s collaboration with Shiga Digital, as it aims to empower African enterprises by integrating blockchain solutions to overcome these challenges.
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