Nairobi, Kenya – July 31, 2024— Mansa, an innovative fintech firm specializing in liquidity for multinational exports and cross-border payments, has announced the launch of its first liquidity pool on Base, a cutting-edge Ethereum-equivalent Layer 2 blockchain developed by Coinbase. This development marks a pivotal step in Mansa’s mission to democratize financing access for businesses across Africa.
The new liquidity pools, which focus on remittance and stablecoin liquidity provision, are designed to offer more cost-effective and efficient financial services. This initiative aims to mitigate the persistent financing gap that affects many African businesses by providing cheaper capital options.
Base, built on the OP Stack, provides a secure and low-cost platform for Mansa to expand its services. Mansa’s innovative model allows venture-backed companies to use a diverse range of assets as collateral, broadening the scope of potential borrowers. As institutional adoption grows, Mansa’s approach is expected to significantly impact the financial landscape of emerging markets.
Mouloukou Sanoh, CEO and Co-founder of Mansa, highlighted the importance of the new pool. “We’re excited to launch our liquidity pool on Base. This advancement will help businesses navigate USD limitations and outdated manual processes, unlocking new liquidity sources and directly addressing the credit gap in emerging markets.” Sanoh said
Emerging markets, particularly in Africa, face significant financing challenges that impede business expansion and economic growth. Mansa’s use of blockchain technology provides a transparent and accessible means for trading and managing assets, bridging traditional financial barriers and addressing foreign exchange constraints.
With operations in both Africa and the UK, Mansa is dedicated to supporting African businesses by enhancing their access to trade finance and cross-border payments. By connecting these businesses with global investors, Mansa is laying the groundwork for a new era of financial infrastructure that promotes growth and overcomes historical limitations.
The launch of Mansa’s liquidity pool on Base underscores the company’s commitment to revolutionizing financial services in emerging markets and fostering economic development through innovative solutions.