Tether marks 500m users with Africa-focused Kotani Pay deal
Tether is focusing its half-billion-user influence on a critical pain point, with the Kotani Pay deal designed to empower African SMEs by slashing the cost and time of international money transfers.
- Tether celebrates 500 million users as it invests in Kenya-based Kotani Pay to expand access to digital payments across Africa.
- The deal aims to reduce cross-border transaction costs and integrate USDT with mobile money and banking networks.
According to a press release dated Oct. 21, Tether has made a strategic investment in Nairobi-based fintech Kotani Pay. The move positions the world’s largest stablecoin issuer to directly embed its USDT token within Africa’s burgeoning digital payments landscape.
Kotani Pay specializes in blockchain on- and off-ramps, building bridges between digital assets like USDT and local payment methods, including mobile money and bank transfers across the continent. Tether CEO Paolo Ardoino stated that the investment aligns with the company’s goal to “reduce friction in cross-border transactions” for both enterprises and individuals.
“Kotani Pay’s vision and strong regional presence make it the right fit to drive our shared goals in Africa and beyond. Together, we aim to empower enterprises and individuals to access digital assets for their global operations and build a more inclusive financial future while promoting the informed use of digital assets,” Ardoino said.
Tether’s milestone underscores a shift in stablecoin adoption
Tether is marking the investment alongside another milestone. The company now facilitates transactions for over half a billion people worldwide through its USDT stablecoin, cementing its role as the industry’s bedrock with a towering $182 billion market cap.
While Tether hasn’t broken down that figure by region, its gaze is fixed on Africa, where it sees its next chapter of growth unfolding. The firm points to a Chainalysis report revealing a 52% explosion in on-chain transaction volume across Sub-Saharan Africa, which rocketed past $205 billion in a single year.
Behind that surge are small business owners and individuals turning to digital assets as a lifeline. They’re navigating the same harsh realities the data confirms: soaring inflation, unpredictable local currencies, and banking systems that have left many behind.
To put faces to these numbers, Tether released a short documentary from Kenya. The film highlights local merchants using USDT to pay international suppliers and families relying on it to receive remittances from abroad. It’s a grassroots look at how a global digital dollar is providing a tangible anchor in economies often defined by their volatility.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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