Tether's contribution leads to $10 million in MANSA funding

Tether's contribution leads to $10 million in MANSA funding

In the world of fintech, exciting developments are underway. MANSA Finance, a stablecoin liquidity provider, has successfully completed a funding round led by Tether and Polymorphic Capital, amounting to $10 million. The funding consists of $3M in equity and $7M in liquidity support.

Since its launch in August 2024, MANSA has demonstrated impressive growth. The company has facilitated $27 million in on-chain transactions, with on-chain volume increasing by 574% between August 2024 and January 2025. MANSA's focus is on leveraging stablecoins to streamline liquidity management for payment providers across emerging and developed markets. The new funds are intended to support MANSA’s expansion into Latin America and Southeast Asia.

Meanwhile, in Morocco, authorities are investigating claims that nationals are bypassing regulations by using cryptocurrencies. The Moroccan Foreign Exchange Office is leading an investigation into suspicious crypto transactions, with officials suspecting crypto users in Morocco are evading banking regulations and transferring large sums abroad using the anonymity provided by cryptocurrencies. This investigation was initiated after international partners flagged potential violations of banking regulations.

Interestingly, despite a ban on cryptocurrencies in 2017, crypto adoption in Morocco has grown steadily. In 2023, Morocco ranked 2nd in Africa and was in the top 20 globally for crypto adoption. Coinbase Wallet has integrated Onboard's P2P marketplace, allowing Nigerian users to buy crypto directly with naira (NGN). Coinbase plans to expand this fiat onramp feature to Kenya, India, Indonesia, Argentina, and Turkey in the next 12 months.

On a positive note, VISA has opened applications for Cohort 4 of its Africa Fintech Accelerator Program with a deadline of Mar. 25, 2025. African blockchain talent firm Web3Bridge has also opened the waitlist for its 13th cohort.

In a separate development, USAID has announced the Women Entrepreneurship Incubator program in Kenya, and applications are open. These initiatives underscore the continued growth and development of the fintech sector in Africa.

Lastly, it's worth noting that MANSA Finance provides real-time settlement infrastructure for fintech companies moving money across borders. The company sources liquidity from DeFi pools and investment funds, operating on Ethereum's Layer-2 network, Base.

As the fintech landscape continues to evolve, it's clear that innovation and growth are at the forefront. Whether it's through traditional financial institutions like VISA or emerging players like MANSA Finance, the future of finance in Africa and beyond is looking bright.

1. MANSA Finance, a stablecoin liquidity provider, raised $10 million in a funding round led by Tether and Polymorphic Capital, with $3M in equity and $7M in liquidity support.
2. Since its launch in August 2024, MANSA has facilitated $27 million in on-chain transactions, with on-chain volume increasing by 574% between August 2024 and January 2025.
3. MANSA's focus is on leveraging stablecoins to streamline liquidity management for payment providers across emerging and developed markets.
4. The new funds are intended to support MANSA’s expansion into Latin America and Southeast Asia.
5. Meanwhile, in Morocco, authorities are investigating claims that nationals are bypassing regulations by using cryptocurrencies for evading banking regulations and transferring large sums abroad.
6. Despite a ban on cryptocurrencies in 2017, crypto adoption in Morocco has grown steadily, ranking 2nd in Africa and being in the top 20 globally for crypto adoption in 2023.
7. Coinbase Wallet has integrated Onboard's P2P marketplace, allowing Nigerian users to buy crypto directly with naira (NGN), and plans to expand this fiat onramp feature to Kenya, India, Indonesia, Argentina, and Turkey in the next 12 months.
8. VISA has opened applications for Cohort 4 of its Africa Fintech Accelerator Program, and African blockchain talent firm Web3Bridge has opened the waitlist for its 13th cohort.
9. USAID has announced the Women Entrepreneurship Incubator program in Kenya, and these initiatives underscore the continued growth and development of the fintech sector in Africa, highlighting the future of finance in Africa and beyond that is looking bright, innovating, and driven by technology.

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