Tether Signs MoU to Advance Financial Inclusion in East Africa

Stablecoin issuer Tether has partnered with the Zanzibar e-Government Authority (eGAZ) to advance digital asset education and drive financial innovation in developing regions.

Advancing Financial Literacy

Stablecoin issuer Tether has signed a pivotal Memorandum of Understanding (MoU) with the Zanzibar e-Government Authority (eGAZ) to advance digital asset education and financial innovation across developing regions. Tether stated that the collaboration aligns with its broader vision to strengthen Africa’s digital economy.

According to a statement, the MoU aims to lay a robust foundation for financial inclusion and promote digital asset literacy alongside sustainable technological progress that meets international best practices. Reflecting on the move, Tether CEO Paolo Ardoino said:

This MoU with the Zanzibar e-Government Authority reflects our commitment to advancing financial literacy and sustainable blockchain innovation in Africa. It marks a turning point, shifting the ecosystem from informal curiosity to structured growth. By combining clarity with educational investment and digital asset integration, we will lay the foundation for a compliant, scalable, and inclusive digital economy.

As part of the arrangement, the stablecoin issuer will also evaluate the integration of USD₮ and its gold-backed digital token, XAU₮, into Zanmalipo, Zanzibar’s local government payment gateway. This move is expected to enhance accessibility and utility within the regional financial ecosystem.

In line with its educational mission, Tether may collaborate with eGAZ to organize workshops for stakeholders across Zanzibar, focusing on critical topics such as blockchain, bitcoin, stablecoins, and peer-to-peer technologies. The MoU also envisions partnerships with local academic institutions and research centers to integrate blockchain technology into educational frameworks and jointly promote public and private sector events to foster entrepreneurship within the blockchain ecosystem.

Seif Said, Director General of eGAZ, highlighted the historical significance of the agreement.

“By executing this MoU, today marks a significant milestone in history as Zanzibar joins the rest of the world in harnessing the opportunities presented through the inclusion of digital assets,” he stated.

Said added that the MoU with the stablecoin issuer will enable his organization to leverage Tether’s support in promoting public participation, digital asset education, and catalyzing legal and institutional reforms toward inclusion.