Tether, the issuer of the world’s largest stablecoin by market value, has signed a Memorandum of Understanding (MOU) with the West African nation of Guinea to explore blockchain adoption and peer-to-peer technology. Announced on February 17, the agreement aims to lay the foundation for Guinea’s transition into blockchain technologies and create an environment conducive to technological innovation.
The partnership focuses on education, innovation, and sustainable tech practices. As part of the MOU, Tether plans to introduce educational programs designed to build blockchain expertise across Guinea’s public and private sectors. The initiative will aim to raise awareness, enhance skills, and foster local talent in digital technologies, helping the nation harness the potential of blockchain to drive economic growth.
Paolo Ardoino, Tether’s CEO, highlighted the significance of this collaboration, stating, “Together, we aim to implement efficient blockchain solutions that benefit both public and private sectors, paving the way for economic growth and establishing Guinea as a leader in technological innovation.”
In addition to education, the partnership seeks to bolster Guinea’s “Innovation City” project, which aims to create a space for tech research and businesses. Djiba Diakité, chief of staff for Guinea’s interim president Mamady Doumbouya, emphasized the importance of empowering the nation’s youth with the tools necessary to meet global digital challenges and seize opportunities in the evolving digital landscape.
This agreement follows a similar initiative in Uzbekistan last year, where Tether partnered with the country’s crypto and capital markets regulator to explore blockchain, stablecoins, and tokenization. Emerging nations, particularly in Africa, are increasingly adopting cryptocurrency, with surveys indicating high adoption rates, such as 84% of Nigerians and 66% of South Africans owning crypto wallets.
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With Guinea now at the forefront of blockchain exploration in Africa, Tether’s partnership could pave the way for more innovative uses of cryptocurrency and blockchain technologies in the region.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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