Categories: Crypto

Africa Crypto News Week in Review: Tether Crypto Education Reaches Zanzibar, NFT Platform Shutting Down in South Africa As Aptos And Yellow Card Partner

Africa crypto news in review: MoMint is shutting down in South Africa as Tether expands crypto education to Zanzibar. Aptos and Yellow Card partner to push stablecoin adoption.

Tether has expanded its blockchain initiative to Zanzibar after signing a memorandum of understanding with local authorities. In South Africa, NFT issuer MoMint is shutting down, signaling the end of an era. Meanwhile, Yellowcard has partnered with Aptos Labs to provide zero-fee stablecoin transactions across Africa.

Let’s explore these continental headlines below:

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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.

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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.

https://twitter.com/Momint_official/status/1835629156840681964?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow

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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