Nigerian startup Ivorypay, focusing on blockchain-based payments and remittances, has partnered with Tether. This collaboration permits Tether, the stablecoin issuer, to directly mint and issue USDT to Ivorypay. The alliance is expected to facilitate cost-effective transactions, enhancing user trust in Ivorypay.
The alliance with Tether is expected to fuel further innovation in Africa’s payment sector. The partnership is also projected to extend the advantages of stable digital transactions to a larger number of consumers and businesses across the continent.
Executives from Ivorypay said that teaming up with Tether is a strategic move that aligns with their vision of simplifying and securing crypto transactions across Africa. This provides them with the liquidity necessary to serve more businesses and individuals across the continent. They also suggested that this partnership will ultimately increase user trust and accelerate the adoption of Ivorypay’s solution.
Also commenting on the partnership, representatives from Tether said that integrating USDT into Ivorypay’s payment systems establishes a new standard for stability and efficiency in the region’s financial services. They are prepared to support Ivorypay in its efforts to create new opportunities for African businesses and consumers.
In May 2022, IvoryPay offered merchants an alternative for making and receiving payments through crypto, aiming to mitigate traditional banking fees and currency fluctuations. Operating on the Solana blockchain, the company facilitates bankless transactions, reducing costs and increasing transaction speed. Its ecosystem includes a payment gateway, NFT Storefront, and IVRY token for seamless transactions, NFT sales, and staking.
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