Canza Finance, which is building the first on-chain FX platform for African currencies, has partnered with the Worldwide Stablecoin Payment Network (WSPN), a global digital payments company leveraging blockchain technology, to enhance its product offerings in emerging economies.
The partnership comes barely a month after the company’s incubation into CMC Labs, CoinMarketCap’s Web3 startup accelerator program, designed to connect builders to the global stage.
LIST | Canza Finance Becomes the Only African Project To Be Accepted into the Inaugural CoinMarketCap Labs Accelerator Program So Far
Canza Finance is building the first on-chain FX platform for African currencies, providing infinite liquidity at Central Bank rates.… pic.twitter.com/SsP6iq5BQC
— BitKE (@BitcoinKE) July 19, 2024
WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology (“DLT”), dedicated to shaping seamless digital payment solutions for its global partners worldwide at the frontier of future digital payments and financial inclusion.
WSPN offers its flagship product, $WUSD, a stablecoin pegged 1:1 to the U.S. Dollar, and aims to optimize secure and licensed digital payments for Web3 users. With the integration of WUSD into Canza Finance’s ecosystem, users and businesses in emerging markets will benefit from more seamless and efficient financial transactions.
Commenting on the partnership, Oyedeji Oluwoye, Co-Founder and CTO of Canza Finance, said:
“This is yet another stride in the right direction, strengthening our resolve and dedication to providing financial services that put Africa on par with global standards.”
Speaking to BitKE, Raymond Yuan, the Founder of WSPN said:
“WSPN’s partnership with Canza Finance is a powerful step towards unlocking financial inclusion and economic opportunity across Africa. By combining our strengths in digital payments and stablecoin technology with Canza’s innovative RWA platform, we can empower individuals and businesses with access to a new world of financial possibilities.” – Founder, WSPN.
WSPN offers a variety of products which includes:
- WUSD stablecoin
- WEUR stablecoin
- WGM
- StableWallet
- The WSPN card
Some of WSPN’s global partners includes:
- BitGet
- BitMart
- Biconomy
- MEXC Global
- HotCoin
- Citex
- MetaMask
- 1Inch
- UniSwap
- Curve
among others.
Canza Finance is building the first on-chain FX platform for African currencies, providing infinite liquidity at Central Bank rates. Baki offers a solution for hedging against currency devaluation, addressing a crucial need in these markets.
A common theme among products developed by Canza Finance is the utilization of real-world assets (RWAs) from their synthetic stable African currencies called zTokens utilized on the Baki exchange: an infinite-liquidity FX platform that offers African currencies at central bank rates to their RWA marketplace (still in private testing), and an RWA asset aggregator that offers seamless investment and management experience for investors and enhanced market exposure to RWA providers.
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About WSPN
WSPN (Worldwide Stablecoin Payment Network) is a global payment network utilizing blockchain technology to enable seamless real-life payment scenarios.
It introduces WUSD, a fiat-collateralized stablecoin pegged to the US Dollar, to ensure stability, transparency, and efficiency in transactions.
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