Tether Fueling $10 Million in MANSA Transactions
In the rapidly evolving world of finance, a new player is making waves – MANSA Finance. This innovative fintech company is leveraging decentralized finance (DeFi) and stablecoins to revolutionize cross-border payments, particularly in emerging markets.
MANSA's platform taps into DeFi liquidity pools and investment funds, using stablecoins to create a decentralized financial network that supports instant global settlements. This infrastructure pre-funds transactions in stablecoins, allowing for real-time settlement globally in less than 30 seconds, 24/7. This integration with major fintechs embeds a financial treasury solution that leverages stablecoins to bypass traditional high-cost and slow cross-border payment systems.
The use of stablecoins not only reduces foreign exchange costs and processing delays but also acts as a hedge against volatile local currencies in emerging markets, expanding financial inclusion. By doing so, MANSA taps into decentralized finance mechanisms to enable cross-border payments that are more efficient compared to traditional banking or remittance services.
MANSA's strategic partnership with Tether, a major stablecoin issuer, is a testament to this relationship. The company secured $10 million in a seed round, with $3M in equity and $7M in liquidity support, from Tether and other investors like Polymorphic Capital. This funding will help MANSA scale its cross-border financial operations, especially in emerging markets.
Since its launch in August, MANSA has processed $27 million in on-chain transactions. The company's vision is to improve financial accessibility and resilience in emerging markets, and it's well on its way to achieving this goal.
Meanwhile, in other news, the Bank of Namibia is considering launching a Central Bank Digital Currency (CBDC) for cross-border payments. This move could potentially streamline international transactions and boost the country's economic standing.
In South Africa, the Financial Sector Conduct Authority (FSCA) is considering adding certain DeFi use cases onto the Innovation Fund Working Group (IFWG) Sandbox. This could pave the way for more innovative financial solutions in the country.
However, in Morocco, authorities are investigating claims that nationals are using cryptocurrencies to bypass regulations and purchase real estate in Spain and the UAE. The investigation was initiated following flags raised by international partners regarding suspicious transactions.
Despite these investigations, Morocco, which banned crypto in 2017, has seen steady growth in crypto adoption. In 2023, the country ranked 2nd in Africa for crypto adoption.
Elsewhere, VISA is accepting applications for Cohort 4 of its Africa Fintech Accelerator Program with a deadline of Mar. 25, 2025. The program aims to support startups working on innovative solutions in the fintech space.
In Kenya, USAID has announced the Women Entrepreneurship Incubator program, inviting applicants to join. The program aims to empower women entrepreneurs and foster economic growth.
As the world of finance continues to evolve, it's clear that innovative solutions like MANSA Finance will play a crucial role in shaping the future of cross-border payments, particularly in emerging markets.
- MANSA Finance, a fintech innovator, is utilizing DeFi and stablecoins to overhaul cross-border payments, especially in developing economies.
- The platform makes use of DeFi liquidity pools and investment funds, creating a decentralized network that facilitates instant global settlements.
- By bypassing traditional payment systems, MANSA minimizes foreign exchange costs and processing delays while offering protection from volatile local currencies.
- Tether, a significant stablecoin issuer, has partnered with MANSA, providing $10 million in funding for its cross-border financial operations.
- In Namibia, there's a potential launch of a Central Bank Digital Currency (CBDC) for cross-border transactions, which could strengthen the country's economic position.
- South African authorities are contemplating adding DeFi use cases to the Innovation Fund Working Group (IFWG) Sandbox, encouraging further fintech innovation.
- In Morocco, authorities are investigating cryptocurrency use to evade regulations and purchase foreign real estate, despite a rise in crypto adoption within the country.
- Africa is seeing growth in innovative fintech solutions, such as the Visa Africa Fintech Accelerator Program and USAID's Women Entrepreneurship Incubator program in Kenya, shaping the future of finance in the continent.
