Tether’s blockchain education initiative reaches Ivory Coast

Tether has partnered with the African Blockchain Institute, a Rwanda-based blockchain think tank, to expand the crypto company’s education initiative to Ivory Coast.

Tether’s (USDT) partnership will help bring blockchain education to students through workshops that will be held at five universities in the West African country, according to a press release on August 9.

These universities include Université Félix Houphouët-Boigny, Institut National Polytechnique Félix Houphouët-Boigny, Pigier Business School, Université Alassane Ouattara and Université d’Abobo-Adjamé.

In Ivory Coast, Tether will support programs that allow students to learn about blockchain technology and cryptocurrencies and gain practical skills. The initiative also targets smart contracts, which are now vital to nearly every sector of the global economy, including healthcare, finance, digital identity and supply chain management.

Education is a key project for the stablecoin issuer, which coordinates educational programs through its Tether Edu unit.

The company introduced Tether Edu in February 2024, with a focus on advancing blockchain education in the emerging markets of Africa, Latin America, and the Middle East. Asia, Europe, and the Commonwealth of Independent States are also target markets.

Blockchain technology and crypto in Africa

Africa also has a large crypto community. For example, a KASI Insight report published in June 2023 noted that 66% of survey participants on the continent said they had heard of cryptocurrency.

Meanwhile, crypto ownership tracking site Triple A puts the total number of people owning crypto in Africa at 44 million. While it’s a small percentage of the global total of over 560 million, there’s been notable growth across the continent, with Nigeria, Kenya, and South Africa being some of the countries with the largest percentage of crypto owners.

But it’s not all growth and a ‘Wild West’ ecosystem. The IMF said Africa’s cryptocurrency market needs regulation in 2022, with many countries creating regulatory frameworks while cryptocurrencies are banned in many countries. Binance’s troubles in Nigeria also illustrate some of the regulatory challenge.

But despite some of these hurdles, the African cryptocurrency market in general is on the rise, and as such, companies like Valour are looking to tap into this potential through new crypto asset products.

Commenting on this growth, Tether CEO Paolo Ardoino stated that many people across Africa use crypto in their daily lives.

“There is significant and growing interest in cryptocurrency in Africa, and it is becoming essential to the daily lives of many residents. Tether is committed to providing future generations of Côte d’Ivoire and African leaders with the skills and understanding needed to succeed in the digital economy,” Ardoino said.