Ivorypay, a Nigerian startup specialising in blockchain-based payments and remittances, has entered a partnership with Tether, the stablecoin issuer.
This collaboration aims to enhance digital transactions, making them more accessible and affordable for African users.
The partnership allows Tether to mint and issue USDT directly to Ivorypay, providing the startup with the liquidity needed to expand its services.
This move will simplify and secure crypto transactions, driving further innovation in Africa’s payment sector. Oluwatobi Ajayi, CEO of Ivorypay, highlighted the strategic nature of the partnership, stating:
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“Partnering with Tether is a strategic move that aligns perfectly with our vision of simplifying and securing crypto transactions across Africa.”
Expanding Opportunities for African Businesses through Blockchain-Based Payments
The integration of USDT into Ivorypay’s payment systems sets a new standard for stability and efficiency in the region’s financial services. This partnership is expected to create new opportunities for African businesses and consumers, driving financial inclusion and accelerating the adoption of blockchain-based payments.
Aly Madhavji, Managing Partner at Blockchain Founders Fund, expressed support for Ivorypay’s efforts, stating:
“We are prepared to support Ivorypay in its efforts to create new opportunities for African businesses and consumers.”
Blockchain-Based Payments in Africa
The partnership between Ivorypay and Tether underscores the increasing adoption of blockchain-based payments in Africa. As startups across the continent embrace this technology, they are not only revolutionising the way transactions are conducted but also driving financial inclusion and economic growth.
Blockchain-based payments offer several advantages, including lower transaction costs, faster processing times, and enhanced security. These benefits are particularly crucial in Africa, where traditional banking systems underserve many individuals and businesses. By providing affordable and accessible payment solutions, startups like Ivorypay empower millions to participate more fully in the economy.
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Partnerships between African startups and global players like Tether demonstrate the continent’s potential as a hub for innovation in the fintech space. As these partnerships continue to grow, they are creating new opportunities for businesses and consumers alike, driving economic development and transforming the financial landscape of Africa.
Overall, the expansion of blockchain-based payments in Africa represents a significant step towards a more inclusive and prosperous future for the continent. As more startups and organisations embrace this technology, Africa is poised to become a global leader in fintech innovation, driving sustainable development and improving the lives of millions.