Bitmama launches a platform to facilitate cross-border payments between users in several African countries, while MANSA provides liquidity for transactions in all countries served.
MANSA, one of the leading liquidity providers in decentralized finance (DeFi), announced a partnership with Bitmama, a payment infrastructure provider for Africa. The partnership aims to develop a cross-border payment market in the region using virtual crypto cards.
The platform, based on Bitmama’s payment infrastructure, will be available in more than 18 countries across the continent, including Nigeria, Ghana, and Kenya. It’ll allow individuals and businesses to send and receive payments in various cryptocurrencies using virtual prepaid crypto cards. Liquidity in each country with the platform’s services available will be provided by MANSA.
The new project is designed to address the key challenge faced by payment companies in Africa in setting up cross-border payment services — lack of capital. With no liquidity, maintaining pre-funded accounts in multiple countries is a major problem. The new platform is designed to enable consumer payments and support cross-border merchant activity on the continent.
Due to Web3 technologies, payment infrastructure is actively developing in Africa. The Zone blockchain project recently launched a new decentralized solution for fast cross-border transfers via POS terminals, supporting instant settlements in any currency.
