Tether Partners with HoneyCoin to Boost Stablecoin Adoption in Africa

Tether, a leading entity in the digital asset sector, has joined forces with HoneyCoin, a burgeoning fintech platform in Africa, to bolster access to stablecoins across the continent. The strategic collaboration aims to tackle financial inclusivity and cross-border transaction challenges, according to Tether.

Enhancing Financial Transactions with USD₮

HoneyCoin is set to launch a cashless point-of-sale (POS) platform that facilitates USD₮ payments, allowing merchants to directly accept stablecoins during checkout. This initiative not only expands payment options for consumers but also enhances sales and convenience for merchants. The integration of USD₮ into HoneyCoin's ecosystem seeks to streamline both online and in-person transactions across Africa, reducing costs and fostering trade.

Addressing Economic Challenges

Many African economies grapple with currency volatility and inflation, alongside limited banking access. Stablecoins present a viable alternative, offering price certainty and reduced transaction friction. The collaboration will introduce stablecoin payments in-store across Kenya, empowering merchants to engage in international transactions more efficiently.

The initiative will further develop infrastructure for QR code payments, real-time foreign exchange conversion from Kenyan Shillings (KES) to USD₮, and merchant dashboards, advancing Africa's payment ecosystem.

Rising Cryptocurrency Adoption

Cryptocurrency usage in Africa is on the rise, with the region receiving over $205 billion in on-chain value between July 2024 and June 2025. This represents a 52% increase from the previous year, making it the third fastest-growing region globally. The trend is closely linked to ongoing financial inclusion challenges, with many individuals remaining unbanked or underbanked, thus turning to alternative financial technologies.

Industry Leaders' Perspectives

Paolo Ardoino, CEO of Tether, emphasized the importance of financial inclusion, stating, "We want individuals anywhere to participate freely in the global digital economy without restrictions." David Makuku Nandwa, CEO of HoneyCoin, highlighted the significance of the collaboration, aiming to simplify stablecoin acceptance akin to mobile money while providing African entrepreneurs with currency stability and global connectivity.

Tether's commitment to advancing Africa's digital finance landscape is further evidenced by its investments in projects such as Kotani Pay and Shiga Digital, and a memorandum of understanding with Zanzibar eGovernment Authority to promote blockchain adoption.