Mansa Secures Over $10 Million to Expand Cross-Border Stablecoin Payments
Fintech firm Mansa, supported by Tether, has raised over $10 million to expand cross-border stablecoin payments.
- Mansa secured $3 million in a pre-seed round led by Tether, with additional funding from Polmorphic Capital, Trive Digital, and Octerra Capital Faculty Group.
- The company also obtained $7 million in liquidity funding from institutional investors to enhance its market presence in Southeast Asia and Latin America.
- Mansa aims to improve fiat economy transactions using on-chain payments to address issues like speed and cost in cross-border payments.
- In six months since its launch, Mansa's solution has processed over $27 million in on-chain transaction volume.
- Annualized stablecoin transaction value reached $15.6 trillion in 2024, surpassing Visa and Mastercard volumes.
Mansa's approach uses stablecoins to reduce settlement delays and transaction costs, particularly benefiting economies facing US dollar shortages. The company emphasizes that stablecoins offer an efficient alternative for businesses to navigate local currency restrictions and capital controls.
Traditional remittance fees average 7.34%, while stablecoins allow for instant, low-cost transactions.