Tether backs Kotani Pay to boost African crypto payments
Tether has announced a strategic investment in Kotani Pay, a Kenyan cryptocurrency payments startup focused on simplifying cross-border money transfers for unbanked populations across Africa.
According to Tether’s press release, Kotani Pay has established itself in the African fintech market through its expanding network and ability to deliver localized financial solutions tailored to regional needs. Its infrastructure aligns with Tether’s broader mission to expand blockchain use cases — including cross-border payments and digital asset management — while enhancing financial access and empowering underserved communities to participate in the global economy.
Earlier, the Nairobi-based startup raised $2 million in a pre-seed round led by P1 Ventures, with participation from DCG/Luno and Flori Ventures.
From business to retail consumers
Kotani has built middleware that connects blockchains to local payment networks, many of which enable users to send money from basic mobile phones without an internet connection, using a communication protocol called Unstructured Supplementary Service Data (USSD).
Kotani also allows users to convert local currencies into U.S. dollars. While the current solution primarily targets businesses, the startup aims to expand its offering to retail consumers once regulatory licenses are obtained — an effort likely to be supported by its strategic partnership with Tether.
Kotani Pay’s key crypto partners include Yellowcard, DCG, Fonbank, Celo’s Valora, Mercy Corps, UNICEF Crypto Innovation Fund, and Stellar. The company also plans to expand into Rwanda, Senegal, Côte d’Ivoire, Tanzania, and Nigeria.
As we wrote, Tether unveils Wallet Development Kit for iOS and Android
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