Opera has announced that its MiniPay wallet has surpassed 1 million users across Nigeria, Kenya, and Ghana.
Launched in September 2023, Opera MiniPay is a stablecoin wallet built by Opera on the Celo blockchain in partnership with Mento Labs.
The wallet is integrated into the Opera Mini browser for Android users allows users to save, send, and receive funds instantly on their mobile phones with very low transaction fees.
With a mission to onboard millions of users to Web3 across Africa, Celo and Mento Labs aim to provide accessible financial tools through MiniPay embedded in Opera Mini.
“The MiniPay wallet has been designed to be intuitive for users of all experience levels to reap the benefits that decentralized finance can bring. Via a familiar Web2 experience, MiniPay makes it easier and more affordable for individuals across Africa to acquire, send and receive Mento cUSD stablecoins – simply by using mobile phone numbers,” said Charles Hamel, Product Director, MiniPay.
According to a statement from the three companies, MiniPay’s mission is to harness the benefits of decentralized finance (DeFi) to provide accessible financial tools and onboard millions of users in Africa to Web3. MiniPay enables fast, easy, and affordable payments through its stablecoin wallet integrated into the Opera Mini browser. Offering sub-cent fees through the Celo network, MiniPay is currently live in Nigeria, Kenya, and Ghana, with plans for expansion into South Africa, and more.
The strategic partnership between MiniPay, Celo and Mento Labs is driven by the shared vision of financial inclusion and economic stability in Africa. Mento decentralized cUSD (Celo Dollar) stablecoins, integrated into the MiniPay ecosystem, offer multiple advantages, including mitigating currency volatility and providing a reliable store of value. This is especially crucial in regions affected by hyperinflation and economic uncertainty, where stablecoins present a decentralized and accessible alternative to traditional financial services.
“The Celo community is thrilled to support the growth of our shared mission, to create the conditions of prosperity for all, through Opera MiniPay. This partnership allows real-world users access to a variety of inclusive financial tools in a seamless, fast, and reliable way,” said Jason Rodrigues, Head of Founder Programs at the Celo Foundation.
“Mento Labs is excited to support the MiniPay rollout that aims to provide affordable and accessible financial services to Opera’s user base in Africa. Focusing on speed, reliability, and financial inclusivity, MiniPay gives users a secure and transparent way to easily store and send funds using stablecoins,” added Markus Franke, CEO at Mento Labs.
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