Tether Supports $10 Million Flow into MANSA Projects
In a significant move for the fintech industry, MANSA Finance, a Dubai-based company specialising in stablecoin-powered liquidity solutions for cross-border payments, has successfully completed a $10 million seed funding round. The round was led by Tether, the issuer of the USDT stablecoin, and involved participation from various corporate investors, quantitative funds, and alternative investment firms.
The funding, which consists of $3 million in equity and $7 million in liquidity support, will be used to enhance MANSA’s liquidity engine and expand its operations into new regions, particularly Latin America and Southeast Asia. Since its launch, MANSA has facilitated approximately $27 million in transactions, with on-chain transaction volume growing by 574% from August 2024 to January 2025.
The funding round, often referred to as "Tether-backed," highlights Tether’s involvement, but there is no explicit mention of Polymorphic Capital participating in this funding round in the available sources. The capital will support MANSA’s geographic expansion and the scaling of its stablecoin-based liquidity solutions for payment providers in both emerging and developed markets.
The success of this funding round positions MANSA as a key infrastructure provider for payment companies needing efficient, stablecoin-driven liquidity management. As MANSA continues to grow, it is set to make a significant impact in the evolving landscape of cross-border payments, particularly in regions where stablecoin liquidity can address longstanding inefficiencies.
Meanwhile, Coinbase is planning to expand its fiat onramp feature via Onboard to Kenya, India, Indonesia, Argentina, and Turkey. This move is expected to make it easier for users in these countries to buy cryptocurrencies. Additionally, African blockchain talent firm Web3Bridge has opened the waitlist for its 13th cohort, while VISA has opened applications for Cohort 4 of its Africa Fintech Accelerator Program.
However, not all news is positive. Moroccan authorities are currently investigating claims that nationals are using cryptocurrencies to bypass regulations and purchase real estate in Spain and the UAE. This investigation is being led by Morocco’s Foreign Exchange Office after international partners flagged suspicious transactions.
In other news, South Africa is making progress on FATF issues and expects to be off the grey-list by October 2025. The South African Financial Sector Conduct Authority (FSCA) is considering adding 'certain DeFi use cases' onto the IFWG Sandbox, while the Bank of Namibia is considering launching a CBDC for cross-border payments.
Lastly, Bitget has partnered with Callpay to enable South African rand transactions, and USAID has announced the Women Entrepreneurship Incubator program in Kenya. MANSA provides real-time settlement infrastructure for fintech companies moving money across borders, and Morocco ranked 2nd in Africa and in the top 20 globally for crypto adoption in 2023.
These developments underscore the growing importance of cryptocurrencies and fintech solutions in the global financial landscape. As companies like MANSA continue to innovate and expand, we can expect to see further disruptions and improvements in the way money is moved across borders.
- MANSA Finance, spearheading stablecoin-powered liquidity solutions for cross-border payments, received a $10 million seed funding round led by Tether.
- The funding round, known as "Tether-backed," will be used to upgrade MANSA’s liquidity engine and extend operations into Latin America and Southeast Asia.
- Since its inception, MANSA has processed around $27 million in transactions, witnessing a surge in on-chain transaction volume.
- Tether’s participation, along with various corporate investors, quantitative funds, and alternative investment firms, will support MANSA’s geographic expansion and scaling of stablecoin-based liquidity solutions.
- Coinbase is planning to extend its fiat onramp feature to Kenya, India, Indonesia, Argentina, and Turkey, making it easier for users in these countries to invest in cryptocurrencies.
- In contrast, Moroccan authorities are investigating claims of nationals using cryptocurrencies to circumvent regulations and purchase real estate abroad.
- South Africa is progressing on FATF issues and anticipates removal from the grey-list by October 2025, while considering adding specific DeFi use cases to the IFWG Sandbox.
- Bitget partnered with Callpay to enable South African rand transactions, and USAID initiated the Women Entrepreneurship Incubator program in Kenya, showcasing the expanding role of fintech and cryptocurrencies in the global financial sphere.
