KEY POINTS
- The blockchain initiative is expected to onboard over 100,000 consumers into the Web3 mobile space
- Participants will receive interactive learning modules where they can earn digital asset rewards
- The program is available in Nigeria, South Africa, Brazil, Turkey and Vietnam
Mobile-first digital wallet Valora today announced its collaboration with stablecoin giant Tether, to launch a global learning program that focuses on driving stablecoin adoption and demonstrating real-world use cases of the USDT stablecoin on Celo, an emerging Ethereum layer 2 and mobile-first blockchain network.
The program, called the Valora Learning Program ft. USDT on Celo, will be launched in Nigeria, South Africa, Brazil, Turkey, and Vietnam. It will leverage the speed and sub-cent transaction costs of the Celo network, which was designed for global fast, low-cost payments.
Introducing Stablecoin Use Cases to Emerging Markets
The goal of the program is to capitalize on the features of the Valora mobile app to demonstrate the real-world use cases of stablecoins to consumers in emerging markets. Basically, the program will provide them with an essential introduction to USDT, the world's largest stablecoin by market value.
Participants will be provided with interactive learning modules where they can gain hands-on experience and earn digital asset rewards. The rewards can then be used to either save, send, or receive funds globally through the Valora wallet.
The market moves quickly—now, so can you.
— Valora (@Valora) August 27, 2024
Valora’s cross-chain swaps feature allows you to swap across major blockchains like @Celo, @Ethereum, @base, @Arbitrum, and @Optimism in-app, ✨ in just a few taps. ✨https://t.co/k0okGR9nFg
Ultimately, participants will be immersed in a simplified Web3 experience – a much easier, faster, and cheaper way to transact using USDT on Celo. More than 100,000 mobile users across emerging economies are expected to be onboarded into the Web3 space through the program.
Among the popular use cases of stablecoins are remittances, payments, value-holding, earning yield, and staking. Notably, four of the program's five focus countries have seen higher-than-average growth globally in crypto ownership, meaning consumers in the said jurisdictions have a "strong appetite" for cryptocurrencies and blockchain technology.
Transforming Money Engagement and Unlocking Financial Opportunities
Paolo Ardoino, the CEO of Tether, said the stablecoin behemoth is continuously looking for ways to transform the way people engage with money, and the collaboration with Valora on Celo will pave the way for consumers to experience how powerful stablecoin technology is in the real world.
"We're excited to be part of this educational program, which underscores the essential role stablecoins play in fostering financial stability and inclusion on a global scale," Ardoino said in a press release shared with International Business Times.
He added that the collaboration will empower users to confidently and effortlessly participate in a new global economy that utilizes digital assets for everyday transactions.
Valora is on a mission toward unlocking financial opportunities by providing emerging markets with access to the global digital economy, especially as emerging markets have massive untapped potential, said Jackie Bona, CEO of Valora.
"Education is empowerment, and by collaborating with Tether on Celo, we're equipping individuals with the knowledge and tools they need to navigate and benefit from the digital economy. Through a mobile-first approach, we're making crypto accessible, easy to use, and directly relevant to the daily lives of people around the world," he noted.
With Celo, Valora and Tether's combined technological prowess, consumers in emerging markets are provided with the essential financial services they need through the devices they use daily. "The Celo community's focus on accessibility ensures that anywhere in the world, individuals can easily access the digital economy," said Rene Reinsburg, President of the Celo Foundation.
The program seeks to break the global barriers that prevent consumers in emerging markets to take part in the booming Web3 space. Through the initiative, consumers can now explore the realm of open finance from the comforts of their phone with the Valora wallet.
