Africa Crypto Update Weekly Recap: Tether Crypto asset Education Expands to Zanzibar, NFT Network Closing in South Africa as Aptos Teams Up with Yellow Card
Africa crypto announcement roundup: MoMint is closing its operations in South Africa while Tether broadens its crypto education efforts in Zanzibar. Aptos collaborates with Yellow Card to enhance stablecoin adoption.
Tether has broadened its distributed database education initiative to Zanzibar after finalizing a memorandum of understanding with local officials. In South Africa, NON-FUNGIBLE TOKEN creator MoMint is ceasing operations, marking a significant shift. At the same time, Yellowcard has teamed up with Aptos Labs to offer zero-fee stablecoin transactions throughout Africa.
Let’s delve into these noteworthy stories from across the continent:
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Tanzania Crypto Update: Tether Enhances Education Initiative in Zanzibar
USDT provider Tether has broadened its blockchain education initiative in Zanzibar.
This update coincided with the announcement of a partnership with a local payment startup, Zanmalipo.
Tether has established a memorandum of understanding with local authorities to enhance blockchain education and encourage crypto adoption.
Paolo Ardoino, CEO of Tether, expressed hopes of developing a digital economy that capitalizes on distributed ledger technology to enhance lives.
“Through clarity, educational investment, and the integration of digital assets, we will establish the groundwork for a compliant, scalable, and inclusive digital economy. Our collaborative efforts aim to utilize blockchain’s potential to elevate lives and foster economic growth in Zanzibar.”
Zanzibar is a premier tourist destination in Africa. Tether aims to expand its footprint in this market and leverage local and international payment opportunities.
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South Africa Crypto Update: DIGITAL COLLECTIBLE Marketplace Closing Down
South African NFT marketplace MoMint ceased operations this week after four years in business.
MoMint was the first local NON-FUNGIBLE TOKEN marketplace, launched during a peak NON-FUNGIBLE TOKEN surge worldwide.
MoMint intended to shift from NFTs to tokenizing real-world assets, aligning with some of the top cryptos to buy, particularly Ondo Finance. Initially, operations seemed promising, with transaction volumes exceeding $2 million by 2024.
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Nevertheless, a mix of available volume issues and local regulations ultimately rendered the company’s operations unsustainable.
Africa Crypto Update: Aptos and Yellow Card Collaborate
Crypto service provider Yellow Card has partnered with APT ▲0.47% to facilitate instantaneous, zero-fee transactions across the African continent.
Aptos offers reliable transaction infrastructure via its solid distributed record, from which numerous 1000X cryptos have emerged.
Yellow Card is eager to expand its user base by tapping into the tens of millions of potential crypto users in Sub-Saharan Africa.
“We’re thrilled to assist Yellow Card in providing millions of users with seamless access to USDT and USDC across 20 nations,” stated Alex Heuer, Head of Payments at Aptos Labs. “Africa is taking the lead in stablecoin adoption for practical applications, and our zero-fee, instant settlement solutions are ideally suited to fulfill this need.”
Affordable transactions are vital to this vision. Existing mobile money services and conventional banking systems impose hefty transaction fees on users across the continent.
Yellow Card aims to take advantage of this collaboration and establish a foothold in this evolving and competitive landscape.
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Africa Crypto Update: MoMint Closes, Tether Educational Efforts in Zanzibar
- South Africa Crypto Update: DIGITAL COLLECTIBLE network MoMint closing operations
- Africa crypto update: Aptos and Yellow Card collaborate for stablecoin adoption
- Tanzania crypto update: Tether broadens crypto education initiative in Zanzibar
The article Africa Crypto News Week in Review: Tether Crypto Education Reaches Zanzibar, NON-FUNGIBLE TOKEN Network Shutting Down in South Africa As Aptos And Yellow Card Partner was originally published on 99Bitcoins.
