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A Nigerian startup specializing in blockchain-based payments and remittances has entered into a partnership arrangement with the stablecoin issuer Tether. The arrangement is expected to extend the benefits of stable digital transactions to a larger number of consumers and businesses across the African continent.
Ivorypay, Tether Partnership Aims to Boost User Confidence
Ivorypay, a Nigerian startup specializing in blockchain-based payments and remittances, has formed a partnership with Tether. This collaboration allows the stablecoin issuer to mint and issue USDT directly to Ivorypay. The partnership is anticipated to enable more affordable transactions, thereby fostering increased confidence among Ivorypay users.
A media statement said Ivorypay’s alliance with Tether is expected to spur further innovation in Africa’s payment sector. The partnership is also projected to extend the advantages of stable digital transactions to a larger number of consumers and businesses across the continent.
Oluwatobi Ajayi, CEO of Ivorypay, commented on the Nigerian startup’s “strategic” partnership with Tether, stating:
Partnering with Tether is a strategic move that aligns perfectly with our vision of simplifying and securing crypto transactions across Africa.
Ajayi stated that partnering with the leading stablecoin issuer provides Ivorypay with the liquidity necessary to serve more businesses and individuals across the continent. The CEO also suggested that this partnership will ultimately increase user trust and accelerate the adoption of Ivorypay’s solution.
Aly Madhavji, Managing Partner at Blockchain Founders Fund, also commented on the partnership. He said that integrating USDT into Ivorypay’s payment systems establishes “a new standard for stability and efficiency in the region’s financial services.” Madhavji further stated that his organization is prepared to support Ivorypay in its efforts to create new opportunities for African businesses and consumers.