Tether is partnering with the Africa Blockchain Institute, a Rwanda-based blockchain think tank, to expand the crypto company’s educational initiative to Ivory Coast.
According to an August 9 press release, Tether’s (USDT) partnership will help provide students with blockchain education through workshops at five universities in the West African country.
These universities include Université Félix Houphouët-Boigny, Institut National Polytechnique Félix Houphouët-Boigny, Pigier Business School, Université Alassane Ouattara and Université d’Abobo-Adjamé.
In Ivory Coast, Tether will support programs that enable students to learn and acquire practical skills in blockchain technology and cryptocurrencies. The initiative also focuses on smart contracts, which are currently critical to virtually all sectors of the global economy, including healthcare, finance, digital identity and supply chain management.
Education is a key project for the stablecoin issuer, which coordinates its educational programs through its Tether Edu unit.
The company unveiled Tether Edu in February 2024, with a primary focus on advancing blockchain education in the emerging markets of Africa, Latin America and the Middle East. Asia, Europe and the Commonwealth of Independent States are also target markets.
Blockchain technology and crypto in Africa
Africa also has a huge crypto community. For example, a June 2023 KASI Insight report noted that 66% of respondents across the continent said they had heard of cryptocurrency.
Meanwhile, crypto ownership tracking site Triple A estimates the total number of people who own crypto in Africa at 44 million. Although only a small percentage of the global total of over 560 million, there is notable growth across the continent, with Nigeria, Kenya and South Africa being some of the countries with the largest share of crypto owners.
But it’s not all growth and a ‘Wild West’ style ecosystem. The IMF said in 2022 that the African crypto market needed regulation and several countries were setting up regulatory frameworks, while crypto has been banned in a number of countries. Binance’s troubles in Nigeria also illustrate some of the regulatory challenge.
However, despite some of these hurdles, the overall African crypto market is on an upward trend. That’s why companies like Valor are looking to leverage its potential through new crypto asset products.
Tether CEO Paolo Ardoino commented on this growth, noting that many people across Africa are using crypto in their daily lives.
“In Africa, there is significant and growing interest in cryptocurrency, which is becoming essential to the daily lives of many residents. Tether aims to provide the next generation of Ivory Coast and African leaders with the skills and insight needed to excel in the digital economy,” said Ardoino.
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