Stablecoin issuer Tether backs MANSA’s $10 million funding in a bid to streamline liquidity for global payments.
Cross-border fintech firm MANSA, focused on solving liquidity challenges in payments, has secured $10 million in a funding round led by Tether, with additional support from investors like Polymorphic Capital, Octerra Capital, and Faculty Group.
In a Feb. 20 press release, the Dubai-based firm said it has also raised funds from institutions, corporate investors, and alternative funds. With the funding, MANSA wants to expand its services in Latin America and Southeast Asia, where liquidity issues often slow down cross-border payments, the firm explains. MANSA’s chief executive Mouloukou Sanoh says the funding marks “a significant milestone in our mission to transform the way money moves.”
“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 $27 million in transaction volume, with $11 million in on-chain volume recorded in January alone.
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.
As crypto.news reported earlier, in countries facing unstable local currencies and limited access to U.S. dollars, dollar-pegged stablecoins like Tether have gained traction. They provide businesses and individuals with a way to store value, facilitate international payments, and support cross-border trade.
