IvoryPay, a pioneering company in the blockchain-powered payment and remittance sector, has forged a significant collaboration with Tether, the original issuer of the notable stablecoin, USDT, to advance cryptocurrency transactions throughout the African continent.
Renowned for developing USDT, one of the world’s premier stablecoins, Tether has entered an agreement to directly mint and distribute USDT to IvoryPay. This partnership heralds the prospect of providing African businesses and individuals with more reliable and cost-effective options for digital transactions.
This strategic alignment will allow IvoryPay to harness the broad acceptance of Tether’s stablecoin, USDT, offering a shield against the volatility typical of cryptocurrencies. The partnership aims to bolster confidence among users, thus encouraging the integration of digital currencies into routine transactions and facilitating smoother cross-border payments.
Oluwatobi Ajayi, the Chief Executive Officer at IvoryPay, articulated the synergy between Tether’s expertise and IvoryPay’s mission to streamline and secure cryptocurrency transactions across Africa.
He emphasized how the alliance would grant IvoryPay immediate access to needed liquidity, enabling them to serve a wider demographic. “This collaboration,” Ajayi said, “will permit us to offer services at a lower cost and with greater speed than our competitors, fostering trust and potentially increasing adoption rates on our platform.”
Aly Madhavji, the Managing Partner at Blockchain Founders Fund, recognized the partnership as a transformative moment for digital financial activities within Africa. By integrating USDT into their payment ecosystem, IvoryPay is set to enhance financial inclusion, revolutionize the ease of cross-border remittances, and set a new benchmark for stability and efficiency in the financial service industry in the region.
Madhavji expressed his enthusiasm about supporting IvoryPay in its mission to unlock new possibilities for the continent’s businesses and consumers.
