Tether and UN Collaborate to win the Digital Economy in Africa
Key Takeaways:Learn more: https://t.co/qKyZLH8j63Enhancing the Cybersecurity FrameworkSchool Programs and Youth PowerInvesting in Vulnerable PopulationsThe Rising Influence of Africa in World Crypto TradingInfrastructure and Regulatory Evolution
The call of enhancing security is also in line with an evolving regulatory landscape. A number of African countries are in the process of putting up legal structures on Virtual Asset Service Providers (VASPs). An example is the Kenyan legislation to regulate the digital asset business that was recently enacted, which is set to establish a more definite legal landscape in the country, both by local start-ups and foreign investors. Tether has also been busy in developing the underlying infrastructure which allows this growth. Recently, the company took a strategic investment in Kotani Pay, an on-ramp and off-ramp solution that links Web3 users and local payment channels on the continent. Tether is simplifying the process of integrating mobile money with stablecoins and in the process enabling unbanked populations to engage in the global economy. Such synergetic activities, including top-tier UN alliances and the bottom-up infrastructure development, have been an indication of a mature market. Although threats like fraud and regulatory uncertainty still exist, the presence of international organizations like the UNODC is one of the signals that digital assets can be regarded as an unchangeable and substantial component of the economic future in African countries. Read More: Circle Joins Binance-Led Travel Rule Network, Expands Compliance to 100+ VASPsAbout Author
