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Tether Invests in Fizen for Global Stablecoin Utilization

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Tether Fizen

By Modupe Gbadeyanka

To support innovative solutions that enhance financial accessibility and security in the digital asset ecosystem, Tether has made a strategic investment in a financial technology (fintech) company specializing in self-custody crypto wallets and digital payments, Fizen Limited.

This transaction will allow Fizen to integrate its innovative technology with Tether’s leadership in the stablecoin industry.

The objective is to accelerate digital asset utilization while upholding the utmost security standards. This will further solidify Tether’s role in advancing blockchain-based finance and its commitment to global financial inclusion.

According to the chief executive of Tether, Mr Paolo Ardoino, this investment in Fizen “underscores our commitment to expanding global access to efficient and reliable digital financial solutions that promote the informed responsible use of digital assets in everyday life.”

“At Tether, we recognize the crucial role of self-custodial payment infrastructure in driving real-world use cases.

“Fizen’s innovative model helps to bridge the gap between self-custody and digital payments, empowering users with greater financial independence while reinforcing our leadership as the most widely used stablecoin globally, advancing inclusive access to the financial system,” Mr Ardoino added.

Also, the chief executive of Fizen, Leo Vu, said, “Stablecoins like USD₮ will undoubtedly drive crypto payments and financial inclusion worldwide.

“The technology infrastructure is already in place, but we lack consumer-friendly applications with intuitive UI/UX to accelerate mass integration.

“Fizen is solving this by making crypto payments an intuitive part of daily transactions, allowing users to pay seamlessly without even realizing they are using blockchain technology.”

Fizen offers advanced payment technologies that facilitate seamless stablecoin transactions, making digital assets more accessible for consumers and businesses. It is one of the crypto companies delivering real value to consumers and businesses, bringing practical crypto use cases to life.

The World Bank’s Global Findex Report reveals that millions of individuals worldwide remain unbanked. People in this category consistently cite distance to the nearest financial institution and a lack of proper documentation requirements as the primary reasons they could not access traditional banking services.

This investment will enable Fizen to enhance its blockchain capabilities, facilitating the seamless integration of stablecoins across multiple blockchain ecosystems. It will also provide users access to a more efficient and user-friendly solution to store, transfer, and transact using stablecoins, eliminating restricted access or complicated documentation.

However, while stablecoins offer a compelling alternative for those excluded from traditional financial systems, their practical use in everyday commerce still faces hurdles despite clear advantages, such as lower fees, enhanced security, and near-instant transactions.

Merchant usage remains a key challenge. Through this investment, Fizen aims to bridge this gap by enabling users to pay seamlessly with stablecoins.

At the same time, merchants receive instant fiat settlements through known payment methods like QR codes and card readers. This eliminates the need for additional infrastructure, making digital asset payments more accessible and efficient for businesses worldwide.

Market projections for 2024 state that QR code payments are expected to surpass $3 trillion, with 2.2 billion users by 2025, driven by increasing smartphone penetration and the rising demand for frictionless, secure, and convenient digital transactions.

With this strategy and strong technological and business development foundations, the collaboration between Fizen and Tether looks to accelerate the widespread use of crypto payments at scale to usher in an era of seamless digital transactions.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Nigeria to Intensify Use of Hybrid Electricity Models—REA CEO

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Electricity Subsidy Q1 2024

By Adedapo Adesanya

The chief executive of Rural Electrification Agency (REA), Mr Abba Aliyu, has said there will be intensification of efforts that will enable hybrid models and gas-powered mini-grids to electrify Nigeria.

Speaking at a recent conference in Lagos, he described the Electricity Act as a major enabler for hybrid models and gas-powered mini-grids.

Mr Aliyu, represented by Japheth Ailenataman, explained that the Act emphasizes technology neutrality and called for greater collaboration and stakeholders engagement.

According to him, gas qualifies under the Act as a cleaner for side-fuel, and should be considered to be acceptable in meeting Nigeria’s energy access and transition goals.

“REA hybrid mini-grid project design supports off-grid gas-powered systems in other sub-areas where such solutions are technically and economically feasible.

“The Electricity Act grants states the right to regulate the electricity market within their jurisdiction for off-grid and embedded generation. This supports localized generation solutions in gas-powered mini-grids in other sub-and non-sub-rural communities. These reforms lower the barrier for independent power producers and mini-grid developers, including those utilizing gas technology.

“Decentralization by the Electricity Act means REA must now actively engage with state electricity regulators as well as these schools where applicable, especially on licensing tariffs, safety standards, and gas-based systems and interconnected mini-grids,”

He said these opportunities are really great for Nigeria to meet its energy transition goals.

“Solar gas-based system integration into REA directs the energy education projects in their programs under embedded or hybrid system justification offer great opportunity for integrating Nigeria gas potential for RYA strategic intervention.

“This integration offers a lot of opportunity, and I see from the keynotes reducing emission is also one of the advantages. It also helps to provide a reliable bank of power, enables productive use of electricity, and enhances private sector participation. The way forward is that RYA has already demonstrated a solar hybrid mini-grid in an economic hub within the under-south area as a way forward.

“When we see some of our projects in the selected Nigerian universities, those mega-projects like University of Medjugorje, we have about 12 megawatts. It’s an embedded system. So these are opportunities for solar gas initiatives in bridging the gap that we have in the electricity sector,” he said.

He said looking forward, Nigeria will be looking at gas supply with comparative and economic reflective pricing that can enhance heat integration.

“That is a programme that the federal government has just introduced to power public institutions through embedded solar hybrid mini-grid systems. It encourages states to align with RYA activity in our energy transition priorities.”

“REA affirms and commits to ensuring that rural electrification contributes to Nigeria’s energy transition plan and meets zero goal. We also commit to decentralizing energy source for the electrification model, which includes solar gas hybrid mini-grid,” he said.

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Bounour Seeks Innovative Solutions for Efficient Power Generation, Distribution in Nigeria

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Mokhtar Bounour Shell Power Conference

By Aduragbemi Omiyale

The time has come for the adoption of innovative solutions to enhance efficient power generation and distribution in Nigeria, the chief executive of Egbin Power Plc, Mr Mokhtar Bounour, has submitted.

Mr Bounour gave this suggestion at the Shell Power Conference 2025 themed Powering Nigeria’s Energy Future: Bridging the Gap Between Ambition and Action in Lagos recently.

The high-level gathering brought together key stakeholders, industry leaders, and policy experts to deliberate on actionable pathways for powering Nigeria’s energy future.

At the event, the Egbin Power chief also called for a sustainable development in the electricity industry, reaffirming the company’s unwavering commitment to this action.

“While compliance with health and safety standards comes first in generating electricity safely, our actions and commitment to providing adequate and reliable electricity to power industries, hospitals, strategic institutions, schools, and homes will enhance socio-economic development in Nigeria.

“Our collective actions and collaborations among players across generations, transmission, and distribution will catalyse improvement of the current situation we have now.

“We have explored how collaboration can unlock transformative investments, improve liquidity, and accelerate the adoption of cutting-edge technologies that will drive operational excellence,” Mr Bounour noted, stressing that the path forward must focus on efficiency, strategic partnerships, and the adoption of innovative solutions to enhance power generation and distribution in Nigeria.

“The challenges ahead are real, but so is our shared determination,” he noted, pointing out the importance of stakeholder collaboration and regulatory support in transforming the sector.

He reiterated Egbin’s readiness to partner across value chains to drive results, noting that the company continuously invests in innovation and operational upgrades to meet Nigeria’s growing energy demand.

“We are further driven by our commitment to real progress and turning our vision into results by building a truly sustainable energy ecosystem,” he shared, stating that, “The road to a brighter energy future requires our collaboration, and I believe that together, we can close the gap between where we are and where we need to be. The future of Nigeria’s energy sector is not a dream. It is a mission, let’s power it together.”

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NGML Signs 44MMscf/d Gas Supply Capacity Deal

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Nigeria’s Gas Sector

By Adedapo Adesanya

The gas arm of the Nigerian National Petroleum Company (NNPC) Limited, the Gas Marketing Limited (NGML), has expanded its supply portfolio with the signing of a Natural Gas Sale and Purchase Agreement (GSPA) with CCETC Suk Power Limited.

The agreement enables the delivery of up to 44 million standard cubic feet per day (MMscf/d) of natural gas, further strengthening NGML’s role in Nigeria’s energy distribution chain.

The new deal, announced at the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Business Development Forum in Abuja, builds on the company’s existing agreement with GasHub Nigeria Limited and underscores its growing footprint in the midstream sector.

The gas supply deal is expected to significantly improve power generation capacity and support liquefied natural gas production, contributing to the nation’s industrial and energy security goals.

NGML noted that by increasing access to gas, it is also helping industries reduce dependency on diesel and other carbon-heavy fuels.

The AKK Gas Pipeline, a key strategic project for NNPC Limited is designed to connect gas-rich southern regions to demand centers in the north. The pipeline has been tagged as a game-changer for industrial growth, power generation, and regional energy access.

The agreement comes at a time when the federal government is intensifying efforts to scale up gas utilization across the country in line with the Decade of Gas initiative.

With this expansion, NGML is positioning itself as a reliable gas off-taker for large-scale industrial and power projects, driving economic development and enabling job creation.

The gas supply is also expected to benefit emerging industrial clusters along the AKK corridor, improving competitiveness and attracting new investments.

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