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 closing in South Africa while Tether expands the cryptographic education in Zanzibar. Aptos and yellow card partners to push the adoption of Stablecoin.

Tether has expanded his blockchain initiative to Zanzibar after signing a memorandum of understanding with local authorities. In South Africa, the NFT Momint broadcaster is closing, reporting the end of an era. Meanwhile, Yellowcard has collaborated with aptos Labs to provide Stablecoin zero-fee transactions throughout Africa.

We explore these continental titles below:

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Tanzania Crypto News: Tether expands the educational initiative in Zanzibar

The Usdt broadcaster the tether has expanded His Blockchain Education Initiative in Zanzibar.

This announcement met with the news of a partnership with the startup of local payments, zanmalipo.

Tether has signed a memorandum of understanding with local authorities to advance Blockchain education and promote the adoption of cryptocurrencies.

Paolo Ardoino, CEO of Tether, said he hopes to create a digital economy by exploiting the blockchain to enhance life.

“By combining clarity with educational investments and the integration of digital resources, we will lay the foundations for a compliant digital economy, scalable and inclusive. By working together, we hope to create a digital economy that exploits the power of the blockchain to improve life and support economic development through Zanzibar.”

Zanzibar is one of the most popular tourist destinations in Africa. Tether tries to grow his presence in this hub and benefit from local and international payments in this market.

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South Africa Crypto News: Closing shop of the NFT market

NFT African NFT Momint Marketplace stop This week after four years of activity.

Momint was the first local NFT market and launched in a historic NFT boom globally.

Momint tried to rotate from the NFT to the tokenisation of the resources of the real world, joining some of the best crypts Ondo loan. Things seemed to be fine for a while, with over $ 2 million in volumes of transactions by 2024.

We did it! Momint was crowned with the best finalists at the Futuratech World Championships at the Dubai at the & Web3 Festival!

We could not have achieved this goal without the unwavering belief and the support of our incredible users. “The Momint* takes us for you!” #SeizeThemomint #to the #Web3 pic.twitter.com/q7ucw3qypf

– Momint (@Momint_offial) September 16, 2024

However, a combination of liquidity challenges and local regulations eventually made the company’s operation unsustainable.

Africa Crypto News: Aptos and Yellow Card come together

Yellow Card encryption provider is collaboration with Apt ▲ 0.47% Provide instant and zero-pity transactions throughout Africa.

Aptos offers excellent transaction infrastructure on its robust blockchain, of which there have been manifold 1000x Cryptos.

Yellow Card is trying to grow its users’ base by exploiting the tens of millions of potential cryptographic users in sub-Saharan Africa.

“We are thrilled to support Yellow Card in bringing millions of users without solution of continuity to USDT and USDC in 20 countries,” said Alex Heuer, head of the payments of APTOS Labs. “Africa is opening the way to the adoption of Stablecoin for practical use cases and our skills of instantaneous regulation to zero fee are perfectly suitable for satisfying this question.”

Low cost transactions are a crucial component of this vision. The current suppliers of mobile coins and traditional banking systems have significant transaction commissions for users throughout the continent.

Yellow Card seems to benefit from this partnership and sculpt a niche in this growing and competitive market.

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