Tether has formed a partnership with the West African nation of Guinea. The collaboration seeks to enhance economic growth by using blockchain and P2P tech. It aims to establish the Republic of Guinea as a key player in Africa’s growing digital economy.
The leading stablecoin issuer has previously entered into comparable partnerships with Uzbekistan, Turkey, and Ras Al Khaimah (RAK) in the United Arab Emirates (UAE)
Tether Collaborates With The Republic of Guinea
The Memorandum of Understanding (MoU) was revealed in a February 17 blog post. It is designed to prioritize education, innovation, and sustainable technology. The MoU also seeks to promote the transfer of global knowledge and the exchange of best practices with Guinea.
Paolo Ardoino, CEO of Tether, expressed optimism for the partnership. He highlighted this as an opportunity to expand blockchain and digital technologies throughout Africa.
“This MoU reflects our commitment to helping countries build resilient digital economies. Together, we aim to implement efficient blockchain solutions that benefit both public and private sectors, paving the way for economic growth and establishing Guinea as a leader in technological innovation,” said Ardoino.
A central component of the MoU is the introduction of educational programs within both the public and private sectors of the nation. Tether plans to achieve this by collaborating with the City of Science and Innovation of Guinea (CSIG).
These programs aim to cultivate local talent in digital technologies and provide skill-building opportunities. In addition, it would help raise awareness of blockchain’s potential.
It is worth noting that the collaboration will also support the nation’s “Innovation City” project. Tether will contribute to the creation of a dynamic space for technology, research, and entrepreneurship in Guinea.
The Minister Director of the Cabinet of the Presidency Republic of Guinea, Djiba Diakité, emphasized that the MoU with Tether is a crucial milestone. He highlighted that it is an important step in driving the country’s digital transformation toward inclusivity and sustainability.
“We aim to open a new chapter in our technological development by integrating cutting-edge technologies such as blockchain and peer-to-peer solutions. It’s a decisive step towards technological sovereignty and Guinea’s influence on the international stage,” he stated.
The Minister of Higher Education and the CSIG project coordinator shared similar views regarding the MoU.
Guinea’s partnership with Tether supports the company’s broader goal of driving technological innovation worldwide. The company has recently made strategic investments across various sectors. This included acquiring a minority stake in Juventus Football Club and investing in Zengo Wallet.
Beyond blockchain projects, Tether is also expanding into artificial intelligence (AI) through its “Tether Data” projects. The CEO previously shared an overview of three AI applications currently under development.
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Source: https://beincrypto.com/tether-mou-guinea-boost-africa-digital-future/