Tether Partners with Guinea to Advance Blockchain Adoption and Digital Innovation

Tether, the issuer of the world’s largest stablecoin, has signed an agreement with the West African nation of Guinea to explore the adoption of blockchain technology and peer-to-peer solutions. The company announced in a blog post on February 17 that it had entered into a memorandum of understanding (MOU) aimed at laying the foundation for Guinea’s integration of blockchain technologies and fostering an environment conducive to innovation.

Tether explained that the agreement focuses on sharing best practices with Guinea, with particular attention to education, innovation, and sustainable technology practices. The company also highlighted that a core component of the MOU involves developing blockchain expertise and educational initiatives across Guinea’s public and private sectors. The programs aim to raise awareness, enhance digital skills, and nurture local talent in emerging technologies.

The partnership with Guinea follows a similar agreement Tether signed in March of the previous year with Uzbekistan’s crypto and capital markets regulator. That agreement was intended to help the Central Asian nation explore opportunities in blockchain, stablecoins, and tokenization.

Support for Blockchain Education and “Innovation City” Project

Tether stated that it seeks to implement efficient blockchain solutions that benefit both Guinea’s public and private sectors, aiming to drive economic growth and position the country as a leader in technological innovation. According to the company, educational initiatives will play a vital role in achieving these objectives.

Paolo Ardoino, CEO of Tether, remarked that the company’s collaboration with Guinea aims to introduce impactful blockchain solutions while fostering a skilled local workforce. He added that the partnership has the potential to establish Guinea as a technological innovator within the region.

Additionally, Djiba Diakité, Chief of Staff to Guinea’s interim president Mamady Doumbouya, emphasized that the initiative reflects the country’s commitment to equipping its youth with the tools needed to confront global challenges and capitalize on digital opportunities.

Tether also announced its intention to support Guinea’s “Innovation City” project, an initiative designed to promote technology research and attract technology companies to the country.

Africa’s Growing Role in Crypto Adoption

Tether’s latest partnership highlights the increasing role of emerging economies, particularly in Africa, in driving global crypto adoption. According to a survey conducted by blockchain firm Consensys in December, African nations are among the world’s most active crypto adopters. The survey revealed that 84% of respondents in Nigeria reported owning a crypto wallet in 2023, while 66% of respondents in South Africa indicated the same. In comparison, only 43% of respondents in the United States reported owning a crypto wallet.

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