PANews reported on June 5 that according to its official blog, stablecoin issuer Tether announced a strategic investment in African blockchain financial platform Shiga Digital, with the specific amount not disclosed. The cooperation aims to provide African companies with cross-border payments, foreign exchange management and other on-chain financial services through USDT stablecoins, focusing on covering the international settlement needs of traditional industries such as oil and gas and freelancers.

Shiga Digital provides customized services such as virtual accounts and over-the-counter transactions. The on-chain gateway it is developing will support users to use USDT directly for daily transactions without exchanging local currency. Tether CEO Paolo Ardoino said that this cooperation will promote blockchain technology to become a core component of Africa's financial infrastructure.