Tether Invests in Shiga Digital for Self-Custodial Expansion

Tether has invested in Shiga Digital, an Abu Dhabi-based fintech startup, to expand self-custodial digital asset products across Africa and the Gulf Cooperation Council region.

Shiga's flagship product is the Enta wallet, a self-custodial solution that uses passkeys and biometric authentication instead of seed phrases. The wallet supports USDT, Bitcoin, and tokenized gold.

Tether's open-source Wallet Development Kit (WDK) will be used to build financial infrastructure for businesses and individuals in these markets. This infrastructure allows users to hold and transact in USDT without relying on centralized custodians.

African economies face challenges such as rapidly depreciating local currencies, making it difficult for businesses to plan and price goods. The UAE, Saudi Arabia, and Qatar are competing to become regional hubs for digital finance, with Abu Dhabi's regulatory framework designed to attract fintech companies working with digital assets.