Yellow Card, a leading African fintech and cryptocurrency exchange, has partnered with Tether, the world’s largest stablecoin provider, to drive crypto adoption in Nigeria, Kenya, and Ghana. Through successful collaboration, they have undertaken various initiatives to raise awareness, educate, and promote the use of Tether’s stablecoin (USDT) among students and young professionals.
Phase 1: Educating and Empowering the Youth :
Over two months, Yellow Card and Tether targeted students and young professionals, reaching over 10,000 individuals in Nigeria, Kenya, and Ghana. The collaboration included university financial literacy tours and a propaganda campaign where Yellow Cards’ brand ambassadors engaged with people in major cities. Participants gained valuable knowledge about stablecoins, blockchain technology, and responsible financial decision-making. As part of the program, they also received their first USDT on the Yellow Card platform.
Addressing Africa’s Crypto Adoption and Financial Education Challenges:
Africa witnessed a remarkable 1,200% increase in crypto adoption between 2021 and 2022, highlighting the need for comprehensive education on cryptocurrencies. To overcome the prevailing hesitation and lack of awareness, Yellow Card and Tether collaborated to bridge the knowledge gap. Tether’s stablecoin, USDT, offers practical solutions in Africa, facilitating cost-effective cross-border remittance payments and enabling gig economy workers to receive secure and instant payments across borders without intermediaries like banks or payment processors.
Tether’s USDT Achieves All-Time High:
In important news for Tether, the market capitalization of its stablecoin USDT surpassed the previous all-time high of $83.2 billion on June 1st. According to data from DeFillama, nearly half of the circulating supply of USDT, valued at $42.86 billion, is on the Tron blockchain, while $33.37 billion is on Ethereum. Additionally, USDT has a significant presence on other blockchain networks such as Binance Smart Chain, Polygon, Solana, Avalanche, and more. Tether’s transparency data reveals total assets of $85.6 billion, liabilities of $83.2 billion, and a cash cushion of $2.4 billion.
The partnership between Yellow Card and Tether has successfully advanced crypto adoption and financial literacy among African youth. By combining university financial education tours with a targeted propaganda campaign, they have reached thousands of students and young professionals, empowering them with knowledge and their first USDT. Tether’s USDT has also achieved a new all-time high, highlighting its increasing prominence in the crypto market.
