Ivorypay, a blockchain-based payment and remittance firm, has joined forces with Tether, a pioneer in stablecoin technology, to revolutionize cryptocurrency transactions across Africa.
By leveraging Tether’s stablecoin, USDT, IvoryPay aims to offer more reliable and cost-effective digital transaction solutions to businesses and consumers across the continent.
Partnership Overview
Tether, known for developing the stablecoin USDT, will mint and issue USDT directly to IvoryPay as part of the partnership agreement.
According to Oluwatobi Ajayi, CEO of IvoryPay “Partnering with Tether is a strategic move that aligns perfectly with our vision of simplifying and securing crypto transactions across Africa,”
He adds: “It gives us easy access to the liquidity we need to cater to more businesses and individuals across the continent and to do that cheaper and faster than anybody else, which we believe will significantly enhance user trust and increase adoption rates across our platforms.”
The collaboration aims to enhance the accessibility and affordability of digital transactions in Africa, addressing the challenges posed by the volatile nature of cryptocurrencies.
Benefits for African Users
Ivorypay will utilize Tether’s widespread acceptance to provide a stable and reliable digital currency option, boosting user confidence in using cryptocurrencies for daily transactions and cross-border remittances.
The partnership is expected to increase financial inclusion by offering secure and efficient payment solutions to individuals and businesses across Africa.
The collaboration will grant IvoryPay easy access to liquidity, enabling it to cater to a broader audience and facilitate faster and more cost-effective transactions.
Industry Impact
Aly Madhavji, managing partner of Blockchain Founders Fund, highlights the transformative potential of the partnership for digital transactions in Africa.
By integrating USDT into their payment systems, IvoryPay aims to set a new standard for stability and efficiency in the region’s financial services, paving the way for increased adoption and financial empowerment.
Future Outlook
- The strategic partnership between IvoryPay and Tether signals a significant milestone in advancing crypto adoption and financial inclusion in Africa.
- With the support of Blockchain Founders Fund and other stakeholders, IvoryPay is poised to create new opportunities for businesses and consumers while driving innovation in digital payments across the continent.
The collaboration between IvoryPay and Tether represents a significant step towards enhancing the accessibility, reliability, and affordability of cryptocurrency transactions in Africa.
By leveraging Tether’s stablecoin technology, IvoryPay aims to revolutionize digital payments and foster greater financial inclusion across the continent, ultimately driving economic growth and empowerment.
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