October 14th 2024 | Dubai, London and Nairobi: MANSA, a global decentralized finance (DeFi) platform that provides liquidity to cross-border payment companies, today announced it has surpassed $3 million in transaction volume.
MANSA’s rapid growth demonstrates the importance of accessible liquidity for payment providers globally. Cross-border payment companies often face high transaction fees which typically require a reserve of liquidity to accommodate; fees for international payments currently average 1.5% for corporations, for example. Lengthy settlement times and differing regulatory requirements routinely cause delays and necessitate that payment companies maintain liquidity in each jurisdiction they operate, hindering the growth of cross-border payment companies in emerging markets.
MANSA went live in September 2024, leveraging decentralised finance to address the financing shortfall limiting the growth of cross-border payment companies. Last month, MANSA launched its first liquidity pool on Base, enabling the decentralized financing platform to provide efficient and accessible liquidity to scaling payments companies across the world. MANSA now provides financing to a wide range of innovative payments companies including Bitmama, which enables businesses and individuals alike to make cross-border payments in multiple currencies.
While MANSA’s initial focus was payment companies in Africa, the decentralised financing pioneer will now embark on a journey to support businesses globally, with plans to enter markets in Asia, the Middle East and Latin America over the next year. The fintech’s mission is to democratize access to financing for businesses in emerging markets across the world by leveraging cutting-edge blockchain technology to reduce financial and logistical barriers to cross-border payments.