The Nigerian blockchain payment platform Bitmama has partnered with the decentralized finance platform Mansa to improve cross-border payment accessibility in Africa. This partnership aims to enhance consumer payment capabilities and support trade across borders. Mansa’s liquidity solution has reportedly already helped foster financial inclusion in other regions.
Bridging the Funding Gap
The Nigerian blockchain payment platform, Bitmama, has partnered with the decentralized finance (defi) platform Mansa in a collaboration that seeks to improve cross-border payment accessibility across Africa. As part of the arrangement, Mansa will provide the Nigerian platform with the liquidity needed to pre-fund accounts across these 18 countries.
According to a statement, the collaboration potentially enhances consumer payment capabilities and supports trade across borders. Before this, Bitmama’s platform required liquidity in serviced countries to facilitate cross-border settlements. This lack of liquidity in turn stifles innovation and creates a funding gap.
Commenting on the partnership announcement, Mouloukou Sanoh, CEO and Co-Founder of Mansa, said:
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.
Meanwhile, the statement revealed that since last year, Mansa’s liquidity solution has helped foster financial inclusion in regions grappling with funding gaps. In Bitmama’s case, the defi platform’s solution will pre-fund the former’s virtual crypto cards. These cards are expected to facilitate cross-border payments across all countries within Bitmama’s reach.
