News from the Wire

Mansa adds cross-border payments for emerging markets

Tuesday, July 30, 2024 — 12:10:31 (EDT)

London, UK / Nairobi, Kenya – July 30th 2024 – Mansa, the pioneering decentralised finance (DeFi) fintech providing liquidity to multinational exports and cross-border payments for companies in emerging markets, today announced the launch of its first pool on Base. This marks a significant milestone in Mansa’s mission to democratise access to financing for businesses in Africa.

Base is a secure, low-cost Ethereum-equivalent L2 blockchain built on the OP Stack by Coinbase, enabling Mansa to offer more efficient and accessible financial services to its clients. Mansa is currently live with two innovative pools centred around remittance and stablecoin liquidity provision, helping African businesses access cheaper capital.

Mansa’s groundbreaking approach allows venture-backed businesses to use a wide range of assets as collateral, significantly expanding the pool of potential borrowers. As institutional adoption of this model accelerates, Mansa’s transformative approach and strategic partnerships will play a crucial role in shaping the future of finance in emerging markets.

“We’re thrilled to launch our new liquidity pool on Base,” said Mouloukou Sanoh, CEO and Co-founder of Mansa. “This move will help businesses overcome USD limitations and manual processes that have long constrained growth. Our platform unlocks new sources of liquidity, directly addressing the credit gap in emerging markets.”

Emerging markets, particularly in Africa, face a substantial financing gap that hinders business growth and economic expansion. Timely and cutting-edge solutions like DeFi are essential for the continued growth of these rapidly advancing economies.

Mansa leverages blockchain technology to offer transparent and accessible means of trading and managing assets. By connecting businesses with global investors, the platform is creating next-generation financial infrastructure that overcomes traditional barriers such as lack of financial services and FX constraints. This forward-thinking approach is particularly beneficial for regions like Africa, where such limitations have historically impacted growth.

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Adisa Aminor Wilks | Georgia Hanias Ecology Media +44 (0) 7812 211 403 adisa@ecologymedia.co.uk | georgiahanias@ecologymedia.co.uk

ABOUT MANSA

Mansa is an innovative DeFi lending protocol that seeks to democratise access to financing for businesses in emerging markets by providing tailored loans from global investors. It leverages blockchain technology to offer expansive and inclusive solutions for underserved markets. For more information, please visit www.mansafinance.co/

ABOUT BASE

Base is an Ethereum Layer 2 blockchain built on the open-source OP Stack by Coinbase. Providing a low-cost ethereum-equivalent, Base aims to build and support the on-chain apps of an open financial system. For more information, please visit www.base.org/about

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Source: Company press release.