Tether Invests in Kotani Pay to Boost African Digital Payments
Tether, the world’s leading stablecoin issuer, is celebrating it’s 500 million user milestone. The company is now focusing on Africa by investing in Kotani Pay, a Kenya-based fintech firm. This move aims to make international money transfers cheaper and faster for small businesses and individuals.
According to a recent press release, Tether’s investment in Kotani Pay will integrate its USDT token with local payment methods. This includes mobile money and bank transfers across Africa. The goal is to reduce the friction in cross-border transactions.
Tether CEO Paolo Ardoino believes this partnership will empower enterprises and individuals. “Kotani Pay’s vision and regional presence make it the perfect fit to achieve our shared goals,” he said. “Together, we aim to build a more inclusive financial future.”
Tether’s investment comes at a time when digital asset adoption is soaring in Africa. A chainalysis report shows a 52% increase in on-chain transaction volume in Sub-saharan Africa,reaching $205 billion in a year. This growth is driven by small business owners and individuals seeking stability amid economic challenges.
To highlight this impact, Tether released a documentary from Kenya. It shows local merchants using USDT for international payments and families receiving remittances. This real-world example demonstrates how digital assets can provide stability in volatile economies.
With a market cap of $182 billion, Tether is committed to expanding its reach. The company sees Africa as its next frontier for growth, aiming to bring financial inclusion to more people.
