As more and more payment companies Explore Stablecoins for cross-border payments and real-time settlement, some startups leverage the spirit of the times by providing liquidity through stable lines of credit.
One of them is Dubai, but centered on Africa Mansawhich provides payment companies that allow payment companies to resolve transactions immediately and immediately fund their client accounts. The startup has raised $10 million in seed funding, including stocks and debt. Stablecoin provider Tether leads $3 million in equity investment.
The funds will support the company’s expansion to Latin America and Southeast Asia, and liquidity challenges also limit regions where cross-border transactions are being traded.
Mansa said its model improves customers’ cash flow at a lower cost than legal alternatives, positioning it as a key player in future payments. Its co-founder, CEO Mouloukou Sanoh and Coo Nkiru Uwaje bring years of expertise in finance, payments and Web3.
Sanoh is a few African fintech investors who previously worked for Web3 VC company Adaverse. Uwaje is Innovation Manager at Swift and leads blockchain strategies for Dell, UK and Ireland.
Cross-border payments are critical to global commerce, but many payment providers face liquidity shortages, resulting in late settlements and higher operating costs, especially in emerging markets. Remittance costs Global average of 6.5%disproportionately affects developing regions. Cross-border payments are expected By 2030, $290.2 trillion per year The current system’s inefficiency could cost businesses billions of dollars.
Mansa said it addresses the issue by providing fast, flexible embedded pre-funded solutions that complete due diligence in less than a month. And unlike traditional lenders, it underwriting loans based on real-time transaction data rather than collateral, while purchasing liquidity on scale through decentralized financing (DEFI). It aggregates capital from Defi platforms, quantum funds, home offices and hedge funds.
Mansa received $7 million in liquidity from certain institutions. Meanwhile, other investors participating in the stock round with Tether include Teachers Group, Octerra Capital, Polymorphic Capital and Trive Digital.
“Payments are on the chain, but in order for payments to move along the chain, you need to have the liquidity on the chain to resolve immediately,” Sanoh told TechCrunch. “That’s why we have so many partnerships with Tether and why we Working very closely together makes it a major stablecoin in emerging markets.”
although USDC’s rapid growth Last year, the founder said that Mansa is versatile due to its wide accessibility, flexibility in use and Market Advantagesit continues to expand with the rise in on-chain payment activity, especially in emerging markets.
Mansa’s customers are not in Europe, and among nine other digital assets, recently stood out from the EU-regulated platform because they do not meet MICA compliance standards, which also makes sense. Tie the rope Still holding 70% of market shareIn terms of trade volume, global stable bacteria.
Still, from a compliance perspective, Mansa said it focuses on regulatory compliance. FinTech recently hired former head of HSBC North Asia and chief legal officer of Franklin Templeton to strengthen its regulatory oversight.
Similarly, Stablecoin liquidity platform says it is building a strong risk framework for liquidity and payments to ensure compliance with AML checks, sanctions screening, KYC (know your customers), KYB (know your business), proactive transaction monitoring and blockchain analysis tools. “We are building fintech and we are approaching everything with this mentality,” Nkiru stressed.
Meanwhile, tether CEO Paolo Ardoino said Stablecoin providers are “proudly working with Mansa and supporting their efforts to reshape their global payment infrastructure.”
So far, Mansa has paid more than $18 million in payments to its customers and has received more than $200 million in liquidity through its partner network. Fintech claims there are no default values so far.
Similarly, since its launch six months ago, its trading volume has increased from $1.6 million in August to $11 million in January, with a monthly growth rate of 37.5%. During this period, it has processed nearly $31 million. Sanoh revealed that the company is expected to reach $1 billion in total payments this year (TPV), while Sanoh revealed its current operating rate of $240 million.
The two-year-old FinTech serves a wide range of clients, including B2B payment platforms, virtual card providers, Stablecoin infrastructure, forex platforms, and remittance companies operating in Africa, Latin America and Southeast Asia. Fintech said the clients reported a 30% increase in transaction volume and a 10% increase in revenue since entering the career. Meanwhile, Mansa’s own income (350% of the fees of financing transactions) over the past six months.
Loans are the starting point for Mansa. But, according to Sanoh, there is more to do. “We are the main liquidity provider to become the largest payments company in emerging markets,” explained CEO Sanoh. “From there, we can handle spending and we can also provide other services such as forex. The goal is to build a one-stop shop,” said CEO Sanoh. , where they can raise payments, settle transactions immediately, and access foreign currencies seamlessly – all in one place.” – a chain version of the stripes.
