MANSA, a leading DeFi platform focused on cross-border payments and trade financing, has announced a strategic partnership with blockchain payment platform Bitmama, to enhance cross-border payment accessibility across Africa.
African payment companies often face significant challenges in establishing cross-border payment services, primarily due to the need for maintaining pre-funded accounts in multiple countries. This requirement can be a major hurdle due to limited capital, stifling innovation, and creating liquidity gaps. Bitmama, which enables users in over 18 countries to send and receive payments in various currencies, has developed a platform to facilitate cross-border settlements but requires sufficient liquidity in each country it serves.
Through this strategic partnership, MANSA will provide the necessary liquidity for Bitmama to pre-fund accounts across its 18 serviced countries. This collaboration will expand payment capabilities for consumers and bolster cross-border trade for businesses across Africa.
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Speaking on the partnership, Mouloukou Sanoh, CEO and Co-Founder of MANSA said,
“Our partnership with Bitmama represents a significant milestone for MANSA. By supplying the liquidity needed to pre-fund accounts, we’re empowering individuals and businesses with improved cross-border payment services. This aligns perfectly with MANSA’s mission to bridge the liquidity gap that hinders entrepreneurs and businesses across Africa and other emerging markets.”
MANSA’s partnership with Bitmama is coming after the DeFi platform last month, launched its first pool on base for emerging markets, to help businesses overcome USD limitations and manual processes that have long-constrained growth. 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 leverages blockchain technology to offer transparent and accessible means of trading and managing assets. Since its launch last year, it has rapidly expanded its presence across key African markets, offering innovative liquidity solutions to support growth and promote financial inclusion growth. The startup works closely with major liquidity providers in the DeFi ecosystem to fulfill its mission.
On the other hand, Bitmama which launched in 2017, has quickly grown to become one of Africa’s leading and most secure payment platforms. The highly secure crypto platform, enables users to buy, sell, or trade Bitcoin, Ethereum, Tether (USDT), Celo, Stellar, USDC, and other cryptocurrencies at the best rates.
The partnership between MANSA and Bitmama is poised to significantly boost cross-border payments across Africa by addressing key challenges that have historically limited the efficiency and reach of such services. Also, this will ultimately support economic growth and financial inclusion across the African continent.
