In order to increase cross-border payment accessibility throughout Africa, Bitmama, a blockchain payment network based in Nigeria, has partnered with Mansa, a decentralised finance (DeFi) platform. The purpose of this strategic alliance is to improve consumer payment capabilities and encourage international trade. In other areas, Mansa’s liquidity solutions have already had a positive impact on financial inclusion.
Filling the Finance Vapour
An important step has been taken to improve cross-border payments: Bitmama has partnered with Mansa, a top DeFi platform. The goal of this collaboration is to increase cross-border payment accessibility throughout Africa. Mansa will provide Bitmama with the liquidity required to pre-fund accounts in 18 different countries as part of the arrangement.
Improving Payment Capabilities for Customers
It is anticipated that the agreement will greatly improve consumer payment capabilities and ease cross-border trading. Before this partnership, Bitmama had trouble facilitating cross-border payments because of issues with liquidity in the nations it served. In addition to inhibiting innovation, this lack of liquidity made a clear financial gap in the industry.
The Function of Mansa in Bridging the Liquidity Gap
The CEO and co-founder of Mansa, Mouloukou Sanoh, emphasised the significance of this alliance by saying, “Bitmama’s relationship is a major step forward for Mansa. We make better cross-border payment services available to both individuals and businesses by supplying the liquidity required to pre-fund accounts. The goal of Mansa, which is to bridge the liquidity gap impeding entrepreneurs and enterprises in Africa and other emerging countries, is in line with this cooperation.”
Increasing Access to Finance in Africa
The introduction of the agreement also highlighted Mansa’s continued efforts to advance financial inclusion in areas beset by budget deficits. Mansa’s liquidity solutions have been crucial in helping to address these issues since last year. Mansa’s DeFi technology will pre-fund Bitmama’s virtual crypto cards in this context, allowing for easy cross-border payments between the nations Bitmama serves.
