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Nigerian crypto platform Bitmama partners with MANSA to revolutionize cross-border payments in Africa

Nigerian crypto platform Bitmama partners with MANSA to revolutionize cross-border payments in Africa

MANSA, a leading DeFi platform focused on cross-border payments and trade financing, has partnered with Nigerian blockchain startup Bitmama. This collaboration aims to enhance cross-border payment accessibility in Africa, addressing liquidity issues that have long hindered financial operations.

African payment companies struggle with maintaining pre-funded accounts across multiple countries, limiting innovation. Bitmama, active in over 18 countries, offers cross-border settlements but needs sufficient liquidity in each region.

MANSA will provide the required liquidity to pre-fund accounts, supporting businesses and consumers.

MANSA’s CEO, Mouloukou Sanoh, highlighted the partnership’s role in promoting financial inclusion by closing liquidity gaps. Founded in 2023, MANSA focuses on bridging funding gaps in emerging markets, while Bitmama, launched in 2017, has become a leading payment platform in Africa.

MANSA, a decentralized finance platform, provides liquidity to multinational companies in emerging markets for cross-border payments and trade finance, aiming to bring trillions in cross-border settlements and exports on-chain by sourcing liquidity from investors and offering short-term financing to export and payments companies based on their credit scores

Bitmama was established in 2017 as a peer-to-peer digital currency exchange and has rapidly transformed into one of Africa's top and most secure payment platforms, allowing users to conduct transactions with virtual cards and efficiently trade and manage cryptocurrencies and digital assets.

This partnership aims to boost cross-border trade and economic growth across the continent.

Published September 6, 2024 by GamblingTalk