As payment companies increasingly explore stablecoins for cross-border payments and real-time settlement, some startups are tapping into the zeitgeist by providing liquidity via a revolving line of credit in stablecoins. One of them is Dubai-based but Africa-focused Mansa, whose offering allows payments companies to settle transactions and fund customer accounts instantly. The startup has raised […] © 2024 TechCrunch. All rights reserved. For personal use only.
Tether has led a $10 million seed round for Mansa, a stablecoin liquidity provider focused on cross-border payments. The funding includes $3 million in equity from Tether and will support Mansa's expansion into Latin America and Southeast Asia. Mansa offers liquidity solutions for payment companies, addressing challenges in emerging markets by providing fast, flexible pre-funding solutions using real-time transaction data and decentralized finance (DeFi). The startup has secured $7 million in liquidity and has disbursed over $18 million to clients, with revenues growing 350% in six months. Mansa collaborates with Tether to use USDT for on-chain liquidity, aiming to reshape global payment infrastructure.
