Tether Invests in Shiga Digital to Boost African Blockchain Finance

@Paul, this matter is related to industry coverage and market knowledge, so I’m assigning it to you.

Key Event: Tether is expanding its footprint in Africa with a strategic investment in the small startup Shiga Digital, which offers blockchain-based financial solutions across the continent.

Editor-in-chief,

According to multiple sources including The Block, Tether.io, Binance News, ChainCatcher, and WuBlockchain, all reporting on June 5, 2025 (with The Block's article time-stamped based on UTC, potentially appearing as May 30th in some contexts due to time zone differences, but the core announcement from Tether itself is dated June 5th), Tether is expanding its operations in Africa through a strategic investment in Shiga Digital. Shiga Digital is a startup that provides blockchain-based financial solutions across the African continent. These solutions include virtual accounts, over-the-counter (OTC) services, treasury management, and foreign exchange (FX) services tailored for African businesses.

The specific amount of Tether's investment has not been publicly disclosed. This collaboration aims to tackle long-standing financial challenges faced by African enterprises, particularly in the areas of cross-border payments and access to global liquidity, by utilizing a financial infrastructure based on Tether's stablecoin, USDT. The partnership is also intended to support treasury and FX management for traditional industries, such as oil and gas, both within and outside of Africa, and will help independent contractors access foreign currencies and global payment services more easily.

This investment is not Tether's first initiative in the African market. Earlier in the year, Tether collaborated with Quidax, an African cryptocurrency exchange. Tether has also been involved in a Bitcoin mining program and invested in MANSA, a cross-border payment services firm with clients in Africa.

Shiga Digital is described as a small company, reportedly based in Abu Dhabi with no more than 10 employees. Tether's CEO, Paolo Ardoino, stated that by working with innovators like Shiga Digital, Tether aims to improve financial access and efficiency for African enterprises, emphasizing that they are actively building a future powered by blockchain technology. The move is part of Tether's broader strategy to increase the adoption of USDT and blockchain technology in emerging markets, providing tools to counteract inflation and integrate businesses into the global economy. Shiga Digital is also developing an on-chain gateway to allow users to transact directly in USDT for everyday goods and services, reducing the need to convert to local currencies.

Hi Paul,

For your upcoming article, focus on the key event: Tether's strategic investment in Shiga Digital, a startup offering blockchain financial solutions in Africa. Emphasize that the goal of this partnership is to address financial barriers for African businesses, particularly in cross-border payments and liquidity access, using Tether's USDT. Highlight the broader impact such as improved treasury and FX management, assistance for traditional industries, and enhanced financial inclusion for independent contractors. Mention that this is part of Tether's ongoing efforts to expand in Africa, including previous collaborations with Quidax and MANSA, and their Bitcoin mining initiative. Keep it clear and fact-focused, avoiding any unnecessary details.

Tether Invests in Shiga Digital to Boost African Blockchain Finance

• Tether has strategically invested in Shiga Digital to enhance financial solutions in Africa.
• The partnership aims to address cross-border payment and liquidity issues using Tether’s USDT.

On June 5, 2025, The Block revealed Tether's strategic investment in Shiga Digital, enhancing Africa's blockchain financial infrastructure. Shiga Digital is a startup that provides blockchain-based financial solutions, including virtual accounts, over-the-counter (OTC) services, treasury management, and foreign exchange (FX) services tailored for African businesses.

The specific amount of Tether's investment was not disclosed. This collaboration aims to tackle long-standing financial challenges faced by African enterprises, particularly in cross-border payments and access to global liquidity, by utilizing a financial infrastructure based on Tether's stablecoin, USDT. The partnership also intends to support treasury and FX management for traditional industries, such as oil and gas, within and outside of Africa, and to help independent contractors access foreign currencies and global payment services more easily.

This initiative is part of Tether's broader efforts to increase the adoption of USDT and blockchain technology in emerging markets to counteract inflation and integrate businesses into the global economy. Shiga Digital is developing an on-chain gateway that allows users to transact directly in USDT for everyday goods and services, reducing the need to convert to local currencies.

Earlier in the year, Tether collaborated with Quidax, an African cryptocurrency exchange. Tether has also been involved in a Bitcoin mining program and invested in MANSA, a cross-border payment services firm serving African clients.

Shiga Digital, based in Abu Dhabi and employing no more than 10 people, was highlighted by Tether's CEO, Paolo Ardoino, who stated that by working with innovators like Shiga Digital, Tether aims to improve financial access and efficiency for African enterprises. This move is part of Tether's strategic plan to foster a future powered by blockchain technology.

As of June 5, 2025, 18:20 UTC, Tether USDt (USDT) is trading at $1.00, with a 0.005% change in 24-hour trading volume, according to CoinMarketCap.