Tether and Xion Global Announce Strategic Collaboration to Drive Blockchain Education in South Africa
05 August 2024 — Tether Operations Limited, the largest company in the digital asset industry, is joining forces with Xion Global, a Multi-Chain Web3 Crypto Payments Infrastructure, to redefine the future of digital transactions in South Africa. This Collaboration aims to boost awareness and education on blockchain technology for everyday transactions.
Tether is the leading stablecoin issuer, with over $113 billion in market cap and accounting for 70% of the stablecoin market’s dominance. Tether has made headway by giving customers the ability to transact with traditional currencies across a blockchain and serving the unbanked population.
Xion Global offers a user-friendly, cutting-edge digital and mobile Web3 crypto payments solution tailored for businesses and individuals. This solution ensures direct access to transactional experiences without needing a third party.
Xion and Tether share the same vision of harnessing the transformative benefits of blockchain technology to create efficient, transparent, accountable, and sustainable processes for individuals, businesses, and institutions. According to a Consensys and YouGov global web3 perception survey conducted earlier this year among a representative sample of over 15,000 people aged 15–64, including 983 respondents from South Africa, the findings indicate that 21% of South Africans currently own cryptocurrencies and 38% have owned cryptocurrencies in the past. These statistics signal that South Africans already embrace cryptocurrency and are well-prepared to take a leading role in the web3 evolution.
As part of this collaboration, Xion Global and Tether will launch a digital educational campaign across South Africa. This campaign will include educational activities such as videos on the Scan to Pay application, case studies, live talks with industry leaders, and engaging materials about digital payments in South Africa. The campaign will target key demographics and showcase practical applications of digital payments, making it easier for users to understand and trust the stability and utility of blockchain technology.
One of the essential aspects of this collaboration is the former integration of Xion Global with Scan to Pay, powered by Ukheshe. This is the largest QR ecosystem in South Africa, used by over 600,000 merchants, 14 banks and fintech companies, and 94 payment service providers, among others. This means that whether you’re ordering online, grabbing a quick bite, or making a significant purchase, all you need to do is scan the QR code, choose your connected MetaMask wallet, select your currency, and click “Pay.”
This collaboration will also see the integration of USD₮ on the Polygon Labs network, where users can connect their MetaMask wallets and leverage Xion Global’s Web3 payment APIs to facilitate real-time transactions. This is a significant step towards making crypto payments as seamless as traditional fiat transactions.
“We are excited to join forces with Tether to improve the understanding of digital payments. Our focus is on making digital transactions as intuitive and reliable as traditional methods.” shares Aeryn Quarmby — COO at Xion Global.”
“We’re excited about this alliance with Xion Global, which represents a significant step in our commitment to global digital education and the informed use of cryptocurrencies,” said Paolo Ardoino, CEO of Tether. “This collaboration will open new possibilities for financial inclusion and economic empowerment in South Africa.”
This Collaboration between Xion Global and Tether is poised to revolutionize digital payment education in South Africa. While offering a multi-chain, blockchain-based payment solution, Xion Global lays the groundwork for a more inclusive and efficient financial future.
The initiative aims to equip South Africans with practical knowledge by focusing on informative and practical content.
About Xion Global
Xion Global is a multi-chain web3 payments provider, offering a powerful suite of APIs and infrastructure to accept, send, and reward payments globally. Proudly recognized as Africa’s premier web3 payments provider, Xion is primed for imminent expansion, targeting collaboration with prominent network, payment, and financial service providers boasting extensive user networks.
Visit https://xion.global to learn more.
About Tether and USD₮
Tether is a pioneer in stablecoin technology, driven by an aim to revolutionize the global financial landscape. With a mission to provide accessible, secure, and efficient financial, communication, and energy infrastructure, Tether enables greater financial inclusion and communication resilience, fosters economic growth, and empowers individuals and businesses alike.
As the creator of the industry’s largest, most transparent, and liquid stablecoin, Tether is dedicated to building sustainable and resilient infrastructure to benefit underserved communities. By leveraging cutting-edge blockchain and peer-to-peer technology, it is committed to bridging the gap between traditional financial systems and the potential of decentralized finance.
Important Note: This press release is not an offer to sell or the solicitation of an offer to buy USD₮. Tether Limited and Tether International Limited will only sell or redeem USD₮ pursuant to the terms of service available (as of the date of this press release) at https://tether.to/en/legal.
