Tether has partnered with the Africa Blockchain Institute, a Rwanda-based blockchain think tank, to expand the crypto company’s educational initiative to Ivory Coast.
According to a news release on Aug. 9, Tether’s (USDT) partnership will help bring blockchain education to students through workshops across five universities in the West African nation.
These universities include Université Félix Houphouët-Boigny, Institut National Polytechnique Félix Houphouët-Boigny, Pigier Business School, Université Alassane Ouattara, and Université d’Abobo-Adjamé.
In Ivory Coast, Tether will support programs that enable students to learn about and gain practical skills in blockchain technology and cryptocurrencies. The initiative also targets smart contracts, which are currently crucial to nearly all sectors of the global economy, including healthcare, finance, digital identity, and supply chain management.
Education is an important project for the stablecoin issuer, which coordinates its educational programs via its Tether Edu unit.
The company unveiled Tether Edu in February 2024, with a primary focus on advancing blockchain education in the emerging markets of Africa, Latin America, and the Middle East. Asia, Europe, and the Commonwealth of Independent States are also target markets.
Blockchain technology and crypto in Africa
Africa also has a huge crypto community. For instance, a KASI Insight report in June 2023 noted that 66% of survey respondents across the continent said they had heard of cryptocurrency.
Meanwhile, crypto ownership tracking site Triple A puts the total number of people who own crypto in Africa at 44 million. While a small percentage of the global total of over 560 million, there’s notable growth across the continent, with Nigeria, Kenya and South Africa some of the countries with the largest proportion of crypto owners.
But its not all growth and a ‘Wild West’ style ecosystem. The IMF said in 2022 that Africa’s crypto market needed regulation and several countries are putting into place regulatory frameworks while crypto is banned in a number of countries. Binance’s woes in Nigeria also illustrate part of the regulatory challenge.
However, despite some of these hurdles, the overall African crypto market is one on an upward trajectory, which is why companies such as Valour are looking to tap into its potential via new crypto asset products.
Tether chief executive officer Paolo Ardoino commented on this growth, noting that many people across Africa use crypto in their daily lives.
“In Africa, there is significant and growing interest in cryptocurrency, which is becoming essential to many residents’ daily lives. Tether is committed to providing the next generation of Ivory Coast and African leaders with the skills and understanding needed to excel in the digital economy,” Ardoino noted.