Africa’s Crypto Boom: Tether Expands Education to Zanzibar, NFT Platform Collapses in South Africa as Aptos & Yellow Card Forge Alliance
Crypto's African renaissance hits new highs—and predictable lows. Tether plants its flag in Zanzibar with blockchain bootcamps, while South Africa's NFT scene bleeds out another casualty. Meanwhile, Aptos and Yellow Card's partnership proves Layer 1 chains still bet big on frontier markets.
Education meets adoption as stablecoin giant Tether doubles down on Zanzibar's unbanked. Because nothing says 'financial inclusion' like onboarding fishermen onto USDT—just don't ask about volatility when the tuna catch is down.
South Africa's NFT graveyard gets fresh flowers. Another platform shuts its doors, proving pixelated monkey JPEGs don't pay the bills when electricity costs more than the art. But hey—at least they accepted Bitcoin.
Aptos and Yellow Card's tie-up screams 'bullish' for African crypto rails. The Layer 1 player and fiat gateway combo might actually move needles—unlike those VC-funded 'safari metaverse' projects quietly burning cash in Nairobi backrooms.
Final thought: When Wall Street's quants finally notice Africa's crypto explosion, they'll probably try to securitize it—turning grassroots DeFi into another over-leveraged ETF. Until then, the real builders keep stacking sats where traditional finance fears to tread.
Tanzania Crypto News: Tether Expands Education Initiative To Zanzibar
USDT issuer Tether has expanded its blockchain education initiative to Zanzibar.
This announcement came together with news of a partnership with local payments startup, Zanmalipo.
Tether has signed a memorandum of understanding with local authorities to advance blockchain education and promote crypto adoption.
Paolo Ardoino, CEO of Tether, said they hope to create a digital economy leveraging the blockchain to empower lives.
“By combining clarity with educational investment and digital asset integration, we will be laying the foundation for a compliant, scalable, and inclusive digital economy. By working together, we hope to create a digital economy that leverages the power of blockchain to improve lives and support economic development across Zanzibar.”
Zanzibar is one of the most popular tourist destinations in Africa. Tether looks to grow its presence in this hub and benefit from the local and international payments in this market.
South Africa Crypto News: NFT Marketplace Closing Shop
South African NFT marketplace MoMint shut down this week after four years of operation.
MoMint was the first local NFT marketplace and launched amid a historic NFT boom globally.
MoMint sought to pivot from NFTs to the tokenization of real-world assets, joining some of the best cryptos to buy, like ONDO Finance. Things seemed to be going well for a while, with over $2 million in transaction volumes by 2024.
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However, a combination of liquidity challenges and local regulations ultimately made the company’s operation untenable.
Africa Crypto News: Aptos and Yellow Card Join Hands
Crypto service provider Yellow Card is partnering with
APT ▲0.47% to provide instant, zero-fee transactions across Africa.
Aptos provides excellent transaction infrastructure on its robust blockchain, out of which there have been multiple 1000X cryptos.
Yellow Card is looking to grow its user base by leveraging the tens of millions of potential crypto users in Sub-Saharan Africa.
“We’re excited to support Yellow Card in bringing millions of users seamless access to USDT and USDC across 20 countries,” said Alex Heuer, Head of Payments at Aptos Labs. “Africa is leading the way in stablecoin adoption for practical use cases, and our zero-fee, instant settlement capabilities are perfectly suited to meet this demand.”
Low-cost transactions are a crucial component of this vision. Current mobile money providers and traditional banking systems have significant transaction fees for users across the continent.
Yellow Card looks to benefit from this partnership and carve a niche in this growing and competitive market.
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Africa Crypto News: MoMint Shuts Down, Tether Education Zanzibar
- South Africa Crypto News: NFT platform MoMint closing shop
- Africa crypto news: Aptos and Yellow Card partner for stablecoin adoption
- Tanzania crypto news: Tether expands crypto education initiative to Zanzibar
