Yellow Card and Tether have announced the successful completion of Phase 1 of their strategic collaboration across three key African markets. The two-month collaboration focused on raising awareness, providing education, and driving the adoption of USD₮, Tether’s stablecoin, among African youth.

“Together, we have completed Phase 1 of the strategic alliance, focusing on raising awareness, providing education, and fostering the adoption of Tether’s stablecoin, USD₮, among students and young professionals in Nigeria, Kenya, and Ghana,” Tether’s announcement revealed.

According to Tether, this was a two-month endeavor that involved various activities, including Financial Literacy Tours in universities and a canvassing campaign where Yellow Card’s Brand Ambassadors engaged with individuals across major cities in these three countries.

The collaboration successfully reached over 10,000 young people, including students from renowned institutions such as the University of Nairobi in Kenya, the University of Benin in Nigeria, and the Kwame Nkrumah University of Science and Technology in Ghana. Participants gained insights into the mechanics of stablecoins, acquired a deeper understanding of blockchain technology, and learned about the importance of responsible financial decision-making. 

Furthermore, each attendee received their first USD₮ on the Yellow Card platform.

Peter Mureu, Director of Marketing at Yellow Card commented on the collaboration saying, “This remarkable collaboration with Tether has provided us with an invaluable opportunity to witness the profound impact of financial education on the youth. It seamlessly aligns with our overarching mission to promote financial freedom for all, encompassing initiatives like the Financial Literacy Tour and the YC Academy. As crypto adoption grows in Africa, so does the need for financial education.”

Paolo Ardoino, CTO of Tether also noted, “We recognize Africa as a pivotal player in the cryptocurrency and stablecoin market. The continent has demonstrated remarkable potential for growth and innovation in the digital currency space. Africa’s increasing cryptocurrency adoption and the demand for stablecoins highlight the need for accessible and efficient financial solutions.”

“Tether is committed to addressing the unique challenges faced by African communities through our collaboration with Yellow Card. Our stablecoin, USD₮, provides practical solutions for cross-border payments and empowers individuals, including gig economy workers, to receive fast and secure transactions, bypassing traditional intermediaries,” he added.

According to Tether, the achievements thus far in the collaboration with Yellow Card reaffirm the importance of financial education and lay the groundwork for continued collaboration in Phase 2. 

The next phase aims to reach an even broader audience across the continent, with a continued focus on educational initiatives. This includes the development of digital courses to equip more Africans with the knowledge and skills required to navigate the world of stablecoins and cryptocurrencies.