Decentralised Finance (DeFi) fintech Mansa has launched a blockchain-backed platform – Base – to provide liquidity and cross-border payments for businesses in Africa.
Base, built on the L2 blockchain OP Stack, will look to enable Mansa to offer more efficient and accessible financial services to its clients in the continent. The first and second poolson the platform are already available to relevant customers.
These pools focus on remittance and stablecoin liquidity, enabling African businesses cheaper access to capital as Mansa will look to further expand available options on the Base platform.
Mouloukou Sanoh, CEO and Co-Founder of Mansa, said: “We’re thrilled to launch our new liquidity pool on Base. This move will help businesses overcome USD limitations and manual processes that have long constrained growth. Our platform unlocks new sources of liquidity, directly addressing the credit gap in emerging markets.”
Mansa’s approach allows venture-backed businesses to use a range of assets as collateral, expanding the pool of potential borrowers. As institutional adoption of this model looks to grow, Mansa’s strategic partnerships will play a role in its attempts to reshape the financial future of emerging markets in Africa.
These markets face a substantial financing gap that hinders business growth and economic expansion. Technological advancements and solutions such as DeFi have been highlighted as an area for emerging markets to focus on.
Mansa leverages blockchain technology to offer accessible means of trading and managing assets.
By connecting businesses with global investors, the platform intends to create “next-generation financial infrastructure” that seeks to break down traditional barriers such as lack of financial services and FX constraints.