Tether and Busha Partner on Stablecoin Infrastructure for African Businesses

Busha Business and Tether have partnered to provide African businesses with stablecoin infrastructure. This collaboration will give companies access to globally connected liquidity for faster cross-border payments, more efficient treasury management, and quicker settlement of international transactions.

The need for this partnership arises from the fact that cross-border payments in Africa are still slow and expensive. According to the International Monetary Fund, Nigeria ranks second globally on Chainalysis' Crypto Adoption Index, highlighting the importance of regulated infrastructure to support continued adoption.

Busha Business was created to provide compliant financial infrastructure for businesses moving money across borders. It serves over 1,500 companies in Nigeria and Kenya, with more than 250 Kenyan businesses processing millions of shillings daily through the platform.