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Mansa teams up with Nigerian blockchain platform Bitmama

Mansa teams up with Nigerian blockchain platform Bitmama

GrafaGrafa2024/09/09 00:45
By:Mahathir Bayena

Nigerian blockchain payment platform Bitmama has formed a partnership with decentralised finance (DeFi) platform Mansa to enhance cross-border payment accessibility across Africa.

This collaboration aims to improve consumer payment capabilities and support trade across 18 countries by addressing the liquidity challenges that have hindered cross-border transactions.

Through this partnership, Mansa will provide Bitmama with the necessary liquidity to pre-fund accounts across these countries.

Bitmama's platform previously faced challenges in facilitating cross-border settlements due to a lack of liquidity in the countries it serviced.

This shortage of liquidity has been a significant barrier, stifling innovation and creating a funding gap in cross-border payments.

Mouloukou Sanoh, CEO and Co-Founder of Mansa, emphasised the importance of this partnership, stating, "Our collaboration with Bitmama marks a key milestone for Mansa. By providing the liquidity needed to pre-fund accounts, we enable individuals and businesses to benefit from enhanced cross-border payment services. This partnership aligns with Mansa’s mission to close the liquidity gap that hampers entrepreneurs and businesses across Africa and other emerging markets."

The partnership builds on Mansa’s existing efforts to foster financial inclusion.

Since last year, Mansa's liquidity solutions have played a crucial role in regions facing funding gaps, helping to improve access to financial services.

For Bitmama, the DeFi platform’s liquidity solution will specifically be used to pre-fund its virtual crypto cards.

These cards are designed to facilitate cross-border payments, enhancing the ease of transactions for individuals and businesses within Bitmama’s network.

By addressing the liquidity gap, this collaboration is expected to provide more efficient and accessible cross-border payment solutions, thereby supporting economic activities across Africa.

The initiative represents a step forward in leveraging blockchain technology and decentralised finance to solve real-world problems, particularly in emerging markets where financial infrastructure remains underdeveloped.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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