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News

Mansa goes live on Base

Tuesday 30 July 2024 14:40 CET | News

Decentralised finance (DeFi) fintech company Mansa has announced that it went live on Base, working towards democratising access to financing for African businesses. 

In a bid to support access to trade finance and cross-border payments in emerging markets, Mansa launched its first pool on Base, which is an Ethereum-equivalent L2 blockchain built on the OP Stack by Coinbase. Through this, Mansa plans to provide more efficient and accessible financial services to its clients. In addition, at the time of the announcement, the company was live with two pools focusing on remittance and stablecoin liquidity provision, which aim to assist Africa-based businesses in accessing optimised capital.

Mansa has announced that it went live on Base, working towards democratising access to financing for African businesses.

Moreover, Mansa’s approach is set to enable venture-backed businesses to leverage a range of assets as collateral, thus expanding the pool of potential borrowers. Considering that institutional adoption of this model increases, the company’s method and strategic collaborations intend to optimise the financial industry in emerging markets. Also, Mansa utilises blockchain technology to provide inclusive solutions that focus on meeting the needs and demands of underserved markets.

Mansa’s development strategy and approach

According to Mansa’s officials, by launching the company’s liquidity pool on Base, it intends to support businesses in overcoming USD limitations and manual processes that affect them in expanding their operations. Through its platform, Mansa aims to provide additional sources of liquidity, whilst directly addressing the credit gap in emerging markets, as they face a significant financial gap that deters their growth and economic advancement.

Furthermore, Mansa utilises blockchain technology to deliver transparent and accessible ways to trade and manage assets. The platform works towards connecting businesses with worldwide investors, developing advanced financial infrastructure that aims to mitigate traditional barriers, including lack of financial services and FX constraints. With this approach, Mansa mainly centres its attention on regions such as Africa, that have been impacted by these issues and have difficulties achieving their growth objectives.

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Keywords: cryptocurrency, stablecoin, financial services, partnership, funding, financial inclusion
Categories: DeFi & Crypto & Web3
Companies: Mansa
Countries: Africa
This article is part of category

DeFi & Crypto & Web3

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Mansa

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