Why Tether’s $10M Bet on MANSA is the Best Thing Since Sliced Bread (or Not)

by

In a move that can only be described as “let’s throw some money at this and see what happens,” stablecoin issuer Tether has decided to back MANSA’s $10 million funding round. Apparently, they believe that streamlining liquidity for global payments is the next best thing to inventing the wheel. 🚀

Cross-border fintech firm MANSA, which sounds like a trendy new yoga studio, is on a mission to tackle liquidity challenges in payments. They’ve managed to snag $10 million in funding, thanks to Tether and a few other investors who probably thought, “Why not?” These include Polymorphic Capital, Octerra Capital, and Faculty Group—because who doesn’t want to be part of a financial revolution while sipping their artisanal coffee?

In a press release that could have used a little more pizzazz, the Dubai-based firm announced on February 20 that they’ve also attracted funds from institutions, corporate investors, and alternative funds. With this cash infusion, MANSA plans to expand its services in Latin America and Southeast Asia, where liquidity issues are as common as bad Wi-Fi. Mouloukou Sanoh, the firm’s chief executive, claims this funding is a “significant milestone in our mission to transform the way money moves.” I mean, who doesn’t want to transform money? It’s like turning lead into gold, but with fewer alchemists and more spreadsheets.

“By bringing payments on-chain and leveraging efficient liquidity solutions, we are addressing critical challenges in cross-border transactions — making payments faster, cheaper, and more reliable worldwide.”

Mouloukou Sanoh

Launched in August 2024 by Mouloukou Sanoh and Nkiru Uwaje, MANSA claims its liquidity solutions have facilitated a whopping $27 million in transaction volume. That’s right, folks—$11 million of that was recorded in January alone. I can only assume the rest was spent on avocado toast and overpriced lattes.

In early October, blockchain forensic firm Chainalysis reported that stablecoins have become a crucial part of Sub-Saharan Africa’s crypto economy, making up about 43% of the region’s total transaction volume. Who knew that digital coins could be so popular? It’s almost like they’re the new black.

As crypto.news reported earlier, in countries with unstable local currencies and limited access to U.S. dollars, dollar-pegged stablecoins like Tether have become the go-to solution. They provide businesses and individuals with a way to store value, facilitate international payments, and support cross-border trade. Because nothing says “I love you” like a stablecoin in a world of financial chaos. 💸

Read More

2025-02-20 11:19