Tether Strengthens Global Reach with Guinea Blockchain Partnership
Tether has partnered with the Republic of Guinea as the largest stablecoin issuer signs a memorandum of understanding (MOU) with the country. With this agreement, both parties will collaborate to support the integration of blockchain technology and advance educational programs throughout the nation. Announced on February 17, the agreement provides a framework for Guinea’s blockchain adoption. The agreement focuses on fostering innovation, economic growth, and sustainable technology practices. Tether will work with the West African nation to devise best practices and build blockchain solutions that benefit both public and private sectors. Tether is widely recognized in the crypto industry as the issuer of the largest stablecoin by market value. Tether Plans to Promote Blockchain Adoption Among its key provisions, the agreement emphasizes educational initiatives to ensure widespread awareness and enhance digital skills. These programs aim to equip individuals across various sectors with the expertise needed to leverage blockchain technology. The stablecoin provider has previously engaged in similar initiatives, such as its agreement with Uzbekistan’s crypto and capital markets regulator to explore blockchain, stablecoins, and tokenization. Tether Signs MoU with the Republic of Guinea to Accelerate Digital Transformation and Economic Growth Through Blockchain TechnologyRead more:https://t.co/BWEOXdViAo— Tether (@Tether_to) February 17, 2025 Tether’s CEO, Paolo Ardoino, highlighted the significance of this collaboration: “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.” Also read: Tether Dominates Stablecoin Market with Two-Thirds Control Amid Soaring Adoption Guinea’s “Innovation City” Project Beyond education and adoption, Tether intends to support Guinea’s ambitious “Innovation City” initiative. This project aims to create a dedicated hub for technology research and development, fostering a collaborative environment to attract businesses within the IT sector. Similar projects have been successfully implemented in other African nations, such as Rwanda and Kenya, where technology-driven initiatives have contributed to economic growth. Guinea’s initiative aligns with a broader trend of blockchain adoption across Africa. A December 2023 survey by Consensys provided significant insights into crypto adoption in the region. The data revealed that 84% of respondents in Nigeria reported owning a cryptocurrency wallet in 2023, followed by 66% in South Africa, compared to 43% in the United States. Also read: Tether Reports Record $13 Billion Profits in 2024 Amid Growing US Treasury Holdings Africa has seen a surge in regulatory initiatives aimed at integrating blockchain technology. Countries such as Nigeria, South Africa, and Kenya have developed frameworks for regulating and promoting digital assets while ensuring enhanced security and compliance.