Tether announced a strategic investment in Shiga Digital, an African blockchain financial platform

PANews reported on June 5 that, according to the official blog, stablecoin issuer Tether announced a strategic investment in Shiga Digital, an African blockchain financial platform, with an undisclosed amount. The cooperation aims to provide on-chain financial services such as cross-border payment and foreign exchange management for African enterprises through the USDT stablecoin, focusing on traditional industries such as oil and gas and the international settlement needs of freelancers.

Shiga Digital offers customised services such as virtual accounts and over-the-counter trading, and its on-chain gateway under development will allow users to conduct daily transactions directly with USDT without having to exchange local currencies. Paolo Ardoino, CEO of Tether, said the partnership will propel blockchain technology as a core component of Africa's financial infrastructure.

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