Decentralised finance (DeFi) platform specialising in cross-border payments and trade financing, MANSA, has partnered with blockchain payment platform Bitmama to improve cross-border payment accessibility across Africa through virtual crypto cards.
Payment companies across Africa face significant challenges in establishing cross-border payment services, where maintaining pre-funded accounts in multiple countries often poses an obstacle due to limited capital, stifling innovation and creating a liquidity gap.
Bitmama, which seeks to enable individuals and businesses in over 18 countries to send and receive payments in various currencies, has built a platform to facilitate cross-border settlements but requires liquidity in each serviced country.
Through this partnership, MANSA will provide Bitmama with the necessary liquidity to pre-fund accounts across these 18 countries, thereby expanding payment capabilities for consumers and supporting business trade across borders in Africa.
Commenting on the partnership, MANSA CEO and co-founder Mouloukou Sanoh said that providing the liquidity needed to pre-fund accounts, enables individuals and businesses to benefit from enhanced cross-border payment services.
“Our collaboration with Bitmama marks a key milestone for MANSA. This partnership aligns with MANSA’s mission to close the liquidity gap that hampers entrepreneurs and businesses across Africa and other emerging markets,” Sanoh added.
Launched last year, MANSA was created to address the significant funding gap in emerging markets, offering innovative liquidity solutions that support growth and foster financial inclusion in these regions.
The company has expanded rapidly, serving key markets across Africa and working closely with some of the biggest liquidity providers in the DeFi ecosystem.
Started in 2017 as a P2P digital currency exchange, today, Bitmama has quickly grown into one of Africa’s leading and most secure payment platforms, enabling individuals to transact with virtual cards as well as trade and manage cryptocurrencies and digital assets safely and conveniently.
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