Tether has signed a Memorandum of Understanding with Zanzibar's e-Government Authority (eGAZ) to advance digital asset education and blockchain adoption across the island nation. The collaboration aims to establish foundational programs for financial inclusion, local capacity building, and digital asset literacy while promoting sustainable technological development aligned with international standards.
A key initiative involves exploring the integration of Tether's stablecoins USD₮ (USDT) and XAU₮ (XAUT) into Zanmalipo, Zanzibar's government payment gateway. This could enhance accessibility within the regional financial ecosystem by providing borderless, stable alternatives for savings, cross-border transactions, and business operations, potentially reducing dependency on traditional banking models.
The partnership includes organizing educational workshops focused on blockchain fundamentals, Bitcoin, stablecoins, and peer-to-peer technologies for stakeholders. It also envisions curriculum development collaborations with academic institutions and joint public-private events to foster entrepreneurship. Paolo Ardoino, CEO of Tether, emphasized this reflects their commitment to "advancing financial literacy and sustainable blockchain innovation in Africa".
Zanzibar's recent blockchain sandbox program demonstrates governmental commitment to technological innovation. The island's crypto market, though nascent, shows growing traction through informal P2P transactions. This MoU aligns with Tether's global expansion strategy, following recent investments in African fintech platform Shiga Digital and Latin American startup Orionx.