Tether has partnered with pan-African fintech and cryptocurrency exchange Yellow Card for a stablecoin education initiative. The two companies have completed the first phase of their partnership, which consisted in raising awareness, providing education, and fostering the adoption of Tether's stablecoin.

These educational initiatives focused on students and young professionals in areas such as Nigeria, Kenya, and Ghana. Phase 1 lasted for two months, and during that time, the companies put together a canvassing campaign in which brand ambassadors for Yellow Card engaged with individuals in major cities from the three aforementioned countries. Furthermore, Tether and Yellow Card organised various financial literacy tours in universities.

According to Tether, the partnership helped more than 10,000 young people, including students from the University of Nairobi in Kenya, the University of Benin in Nigeria, and the Kwame Nkrumah University of Science and Technology in Ghana. Those who participated in the events were able to learn more about stablecoins and blockchain technology. They also learned about the importance of making responsible financial decisions, and they received their first Tether stablecoin on the Yellow Card platform.

Cryptocurrency adoption in Africa Tether reports that there has been a 1200% surge in cryptocurrency adoption between 2021 and 2022 in Africa. However, due to a lack of understanding of cryptocurrency technology and blockchain, companies and individuals are still hesitant to adopt these new currencies. In essence, the partnership between Tether and Yellow Card aims to promote the adoption of cryptocurrencies across the continent through educational initiatives that can bridge the knowledge gap.

In the company press release, officials from Tether talked about this surge in cryptocurrency adoption in Africa and highlighted the demand for stablecoins, as well as the need for accessible and efficient financial solutions. They also emphasised that Tether’s stablecoin offers practical solutions for cross-border payments and has the potential to help individuals, including gig economy workers, to receive fast and secure transactions that bypass traditional intermediaries. Other developments from Tether In May 2023, Tether facilitated stablecoin adoption in Argentina by partnering with on/off ramp solution KriptonMarket.

The collaboration between the two entities provided users in Argentina with stablecoin access at the Central Market of Buenos Aires. The Central Market of Buenos Aires is an important retailer of fruits and vegetables in Latin America, and it includes 900 wholesale merchants and 50 retail merchants according to the official press release. The collaboration between Tether and KriptonMarket came in the context of Argentina’s rising inflation, which has reached a new high after accelerating unexpectedly over the course of a few months.

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