FUNDING | Tether Expands in Africa with Investment in Shiga Digital, Targeting FX and Treasury Solutions

Tether, the issuer of the world’s largest stablecoin by market cap, is expanding its footprint in Africa through a strategic investment in Shiga Digital, a startup that offers blockchain-based financial solutions targeting the continent.

According to a statement, Shiga Digital provides services such as virtual accounts, over-the-counter (OTC) trading, treasury management, and foreign exchange (FX) solutions across multiple African markets.

Tether did not disclose the value of the investment.

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TL;DR – Tether in Africa:

• Tether has invested in Shiga Digital, an Abu Dhabi-based startup offering financial infrastructure across Africa.
• Services include virtual accounts, OTC trading, treasury management, and foreign exchange.
• This follows earlier collaborations with African firms like Quidax and MANSA.
• Tether aims to support FX-heavy industries and expand USDT access across the continent.
• Africa is seen as a key frontier for blockchain adoption amid rising regulatory openness.

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This latest move follows a string of Africa-focused initiatives by Tether in recent months.

In early 2025, as reported by BitKE, Nigerian cryptocurrency exchange, Quidax, announced a partnership with Tether, signaling growing collaboration between stablecoin providers and African exchanges.

Tether has also supported initiatives with regional relevance, including a Bitcoin mining education program and an investment in MANSA, a cross-border payment services firm that caters to African businesses. The company says these projects are part of a broader strategy to offer “seamless, blockchain-based financial infrastructure powered by USDT.”

“This collaboration marks a significant step toward addressing longstanding financial barriers faced by African businesses,” said Tether in its statement.

“Especially in cross-border payments and accessing global liquidity.”

The Shiga Digital partnership is also expected to serve legacy sectors such as oil and gas – industries with considerable FX exposure and treasury needs.

Who is Shiga Digital?

Shiga Digital remains a relatively unknown player, with a minimal social media footprint and fewer than 10 employees, according to its LinkedIn profile. The startup is headquartered in Abu Dhabi but markets itself as a pan-African financial infrastructure provider. Its website highlights a mission to democratize financial access using blockchain.

Despite its size, Shiga’s strategic focus appears to align closely with Tether’s push to bring USDT-based solutions to underserved and inflation-prone markets.

Abiola Shogbeni, CEO of Shiga Digital, commented:

“At Shiga Digital, we believe the future of money is decentralized.

We envision a world where Bitcoin becomes the default global currency. In contrast, local currencies may continue to serve as tools for value exchange, and internet-native money will increasingly dominate the broader financial landscape.

Stablecoins, particularly those pegged to stable assets like the U.S. dollar, will become essential components of everyday transactions and critical elements of financial portfolios, offering a reliable, non-speculative store of value. Self-custody will also become the norm, as individuals and businesses demand full control over their assets, rejecting custodial systems that impose unnecessary restrictions.

Our collaboration with Tether is rooted in this shared vision, as we build a financial ecosystem that empowers users with freedom, security, and resilience.”

Shiga Digital is developing an on-chain gateway enabling users to transact directly in USD₮ for everyday goods and services, eliminating the need to off-ramp into local currencies and bridging economies across borders. Tether’s investment supports its broader commitment to expanding blockchain innovation and stablecoin adoption across Africa, accelerating the integration of blockchain technology into practical, day-to-day business operations.

Tether emphasized the continent’s momentum toward digital finance and cryptocurrency adoption. As reported by BitKE in late 2024, The company cited recent developments such as Morocco’s crypto assets draft legislation as examples of Africa’s growing receptiveness to blockchain innovation.

“Africa’s digital asset landscape is rapidly evolving,” the statement said. “There is a growing interest in digital assets across Africa.”

Tether CEO, Paolo Ardoino, added that the partnership with Shiga Digital is about delivering “financial access and efficiency” to African enterprises.

“At Tether, we believe stablecoins are the heartbeat of financial transformation,” said Paolo Ardoino, CEO of Tether.

“By collaborating with innovators like Shiga Digital, we aim to deliver financial access and efficiency to African enterprises. Together, we are not just imagining a future powered by blockchain technology, we are building it.”

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