Tether, the leading stablecoin issuer, has joined forces with the Africa Blockchain Institute, a Rwanda-based blockchain think tank, to bring blockchain education to the Ivory Coast. This partnership marks a significant step forward in Tether’s ongoing mission to promote blockchain literacy across emerging markets.
According to a news release on August 9, Tether’s collaboration with the Africa Blockchain Institute will facilitate blockchain education through a series of workshops at five major universities in the West African nation. The selected institutions include Université Félix Houphouët-Boigny, Institut National Polytechnique Félix Houphouët-Boigny, Pigier Business School, Université Alassane Ouattara, and Université d’Abobo-Adjamé.
Empowering the Next Generation with Blockchain Skills
In the Ivory Coast, Tether aims to support educational programs that not only introduce students to blockchain technology and cryptocurrencies but also provide them with practical skills essential for the digital economy. These initiatives will also cover smart contracts, which have become increasingly vital across various sectors globally, including healthcare, finance, digital identity, and supply chain management.
Education is a core focus for Tether, and this effort is spearheaded by the company’s educational arm, Tether Edu. Launched in February 2024, Tether Edu is dedicated to advancing blockchain education in emerging markets such as Africa, Latin America, and the Middle East, with additional focus areas in Asia, Europe, and the Commonwealth of Independent States.
Africa’s Growing Crypto Ecosystem
Africa has a rapidly expanding crypto community. A KASI Insight report from June 2023 revealed that 66% of respondents across the continent had heard of cryptocurrency. Furthermore, crypto ownership tracking site Triple A estimates that 44 million people in Africa own cryptocurrency. While this figure represents a small percentage of the global total of over 560 million, the continent is witnessing significant growth, particularly in countries like Nigeria, Kenya, and South Africa.
Despite this growth, the African crypto market faces challenges, including the need for regulation. The International Monetary Fund (IMF) highlighted in 2022 the necessity of regulatory frameworks for Africa’s crypto market. In response, several countries are establishing regulations, though crypto remains banned in some nations. Binance’s recent regulatory issues in Nigeria underscore the complexities of operating within this evolving landscape.
Nevertheless, the overall trajectory of Africa’s crypto market is upward, attracting the attention of companies like Valour, which are keen to tap into its potential through new crypto asset products.
Tether’s Commitment to Africa’s Digital Future
Tether CEO Paolo Ardoino commented on the continent’s growing interest in cryptocurrency, emphasizing its increasing importance in the daily lives of many Africans. “In Africa, there is significant and growing interest in cryptocurrency, which is becoming essential to many residents’ daily lives. Tether is committed to providing the next generation of Ivory Coast and African leaders with the skills and understanding needed to excel in the digital economy,” Ardoino stated.
Through its partnership with the Africa Blockchain Institute, Tether is not only advancing blockchain education in the Ivory Coast but also helping to cultivate a new generation of digital-savvy leaders ready to drive innovation across the continent.