MANSA, a prominent decentralized finance (DeFi) platform focused on cross-border payments and trade financing, has announced a new partnership with Bitmama to improve payment accessibility across Africa. This partnership is expected to respond to the current situation in which payment companies struggle to set up efficient cross-border services on the continent.
Various payment companies operating in Africa need help with pre-funding accounts, which is a major constraint of resources; hence, their lack of innovation leads to a liquidity crunch. To implement these goals, a blockchain payment service provider operating in more than 18 countries, Bitmama, has created a technology for international payment transfers. However, it experiences a liquidity constraint in each of the countries it operates within—a vice that has greatly affected its operations.
To this end, MANSA intends to resolve this problem by offering Bitmama pre-funded accounts in these 18 countries. This move is believed to increase consumers’ payment versatility and boost business transactions across African borders.
MANSA Aims to Bridge Liquidity Gap with New Bitmama Collaboration
Mouloukou Sanoh, CEO and Co-Founder of MANSA, stated that the collaboration with Bitmama is one of the firm’s key accomplishments. By providing the requisite liquidity, it will help improve cross-border payment services for people and corporate entities in line with its goals of filling this liquidity gap, which hampers the growth of the economy and entrepreneurship, especially in Africa and other emerging markets.
MANSA, developed last year, was designed to fill the funding gap in emerging markets. It provides liquidity products intended to drive development and access to funds in those areas. The proposed firm has grown quickly across Africa and works with big liquidity participants in DeFi.
Launched in 2017 as a P2P marketplace for digital currencies, Bitmama has become one of Africa’s most secure payment platforms. By availing of the service, users can perform transactions involving cryptocurrencies, trading, and other activities through virtual cards in the most secure manner possible.
