MANSA, a recently founded liquidity provider, has added blockchain payment platform, BitMama, as one of its clients to boost its business across Africa.
Bitmama started in 2017 as a P2P digital currency exchange and quickly grew into a platform to trade and manage cryptocurrencies and digital assets conveniently. Today the platform supports payments for individuals and businesses across more than 18 countries to send and receive payments in multiple currencies.
While Bitmama has developed a system for cross-border settlements, it needs liquidity in each country it operates in, according to MANSA.
“MANSA will provide Bitmama with the necessary liquidity to pre-fund accounts across these 18 countries, expanding consumer payment capabilities and supporting business trade across African borders through this partnership.
Our collaboration with Bitmama marks a key milestone for Mansa,” said Mouloukou Sanoh, CEO and Co-Founder of Mansa.
“By providing the liquidity needed to pre-fund accounts, we enable individuals and businesses to benefit from enhanced cross-border payment services. This partnership aligns with Mansa’s mission to close the liquidity gap that hampers entrepreneurs and businesses across Africa and other emerging markets.”
Sanoh, previously CEO at Cassava Network, an African Web3 platform specializing in rewards, entertainment, and art, founded MANSA in November 2023 with the goal of addressing ‘the significant funding gap in emerging markets.’
According to the company, it offers innovative liquidity solutions that support growth and foster financial inclusion in these regions. It sources liquidity from institutional and accredited investors, then creates short-term financing products to companies in the export and payments sectors, guided by their credit scores.
MANSA runs liquidity pools on blockchains like Base, an Ethereum layer 2 solution. The pools provide liquidity providers (LPs) with attractive yields and token rewards while borrowers benefit from lower interest rates and flexible financing options. These pools are used to provide liquidity to their clients such as Bitmama.
1/6 🚀Mansa launches on @Base to enhance liquidity provision for businesses.
As we continue our mission to support global trade, we’re excited to launch a pool on Base to provide liquidity to exports and cross-border payments companies in emerging markets. pic.twitter.com/J0U1ivRFze
— Mansa Finance (@MansaFinance_co) July 29, 2024
MANSA’s technology partners also include Credora, which generates technology-driven credit ratings and analysis.
MANSA says it is now in operation across major markets throughout Africa.
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About Mansa Finance
MANSA is a decentralised finance (DeFi) platform dedicated to providing liquidity solutions to cross-border payment companies. By sourcing capital from institutional and accredited investors, MANSA offers short-term financing to ensure payment providers have adequate funding to facilitate cross-border settlements for individuals and businesses, particularly in Africa and other emerging markets.
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