Tether Operations Limited, the largest company in the digital asset industry, and NODO, a growth partner for Web3 companies across emerging markets, are announcing a collaboration to drive stablecoin and bitcoin education in Africa.
Tether, a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner, intends to tap into Africa’s growing appetite for education on Bitcoin and stablecoins. Through this collaboration, Tether aims to educate users in Africa by teaching them about the use cases of stablecoins and facilitating transactions with USD₮.
This strategic collaboration between Tether and NODO will focus on providing financial and technological education among technology-savvy youths through a range of educational content, material, and quizzes.
This six-month campaign aims to educate the public through online AMAs, workshops, and Q/As with crypto experts on social media. It will also include physical roadshows and seminars in major cities to further engage with their crypto communities.
“Access to finance in Sub-Saharan Africa, encompassing financial institutions, mobile money services, and related avenues, currently stands at 49%, significantly lower than the global average of 76% and the Developing Countries average of 71%. We posit that fostering market expansion and advancing financial literacy across Africa, coupled with the presence of Tether in Africa, the leading digital asset company globally, will wield substantial influence in addressing the region’s financial obstacles and fostering greater financial inclusion through education“, said Shogo Ishida, Co-founder of NODO.
“Our main goal is to redefine traditional finance, as we are already doing, and to ensure financial freedom for the underserved, unbanked population, especially in Africa. We are excited to be working with NODO to achieve this,” said Paolo Ardoino, CEO of Tether.
NODO features a multichain gamified incentive layer that allows its 200k+ users to interact through articles, quizzes, surveys, and its forum-style feed for educational purposes. NODO has built Africa’s largest blockchain community, attracting over 4 million site visits and 200,000 wallets connected across Celo, Avalanche, and BASE.
The company has inked deals with blockchain companies such as CV Labs, Fonbnk, Canza Finance, and Avalanche, which have helped them grow their awareness and transaction volumes in Africa.
Stablecoins have become the favorite cryptocurrency for residents of Sub-Saharan Africa because they can be protected against inflation and currency devaluation.
They also provide a fast, cheap, and convenient alternative for facilitating cross-border transactions for intra-African commercial trade and receiving considerable remittances across various locations.
According to data collated by blockchain data platform Chainalysis between July 2022 and June 2023, stablecoins account for about 60% of the monthly cryptocurrency value sent by Sub-Saharan Africans.
