This integration marks a significant milestone towards Changera`s mission to democratize cross-border payments access for people and businesses worldwide.

Changera will now allow both cash-in services in Canada, Senegal, Uganda and Kenya and cash-out services using Circle’s stablecoin, USDC, via the Stellar blockchain network, at participating MoneyGram locations across 180+ countries. 

Founded in 2021, Changera’s business objectives are rooted in enabling seamless and secure cross-border payments and remittances for its users. Since its inception, the fintech platform has delivered on its value proposition to allow businesses across Nigeria, Ghana, Kenya and Canada.

With this integration, Changera is taking a giant leap forward, expanding its reach worldwide as the first African-based custodial wallet collaborating with MoneyGram. Users in Canada, Senegal, Uganda and Kenya will enjoy reduced costs and faster transactions when cashing in at MoneyGram agents closest to their locations into their Changera Wallets, while withdrawals are available to existing and new customers globally.

Speaking on the integration, Ruth Iselema, the Chief Executive Officer of Changera said:

“The primary objective of this integration is to simplify the process of funding Changera wallets for users. Our solution is coming very timely because 1.4b people currently don’t have bank accounts globally. That`s approximately a quarter of the world’s population and 60% of adults worldwide work in the cash economy despite access to digital wallets. MoneyGram’s extensive network of agents will allow easier deposit and cash transfers in these regions and recipients will have unparalleled access to cash out their funds conveniently. This is the first collaboration of its kind between MoneyGram and a Fintech company in Africa, outside of traditional banking institutions. We’re proud to be pioneers of such.”

Expressing excitement about the integration, Umar Adamu, Chief Technology Officer at Changera said:

“We are thrilled that our goal to enable businesses and individuals move money freely globally is coming to fruition through this integration with a global leader in cross-border money transfers and payment service MoneyGram. This collaboration marks a significant milestone for Changera as we expand our reach and enhance the user experience for our customers. We are revolutionising the way Africans engage with digital wallets, providing them with unparalleled convenience and accessibility as they on/off ramp with USDC over the Stellar network on our platform. It accentuates our commitment to fostering financial inclusion and empowering individuals throughout the continent. We are excited about the possibilities and look forward to transforming the financial landscape in Africa together.”

Direct cash deposits and withdrawals are a major step forward for Changera`s customers who can now access their funds swiftly and securely, without the limitations previously experienced.

It further underscores Changera’s commitment to advancing financial inclusion for the excluded, unserved and underserved regions in Africa and ensuring equal access to the benefits of the digital economy.

By integrating MoneyGram’s trusted services, Changera is staying true to its mission to allow users to transact without limits, regardless of their geographic locations, thereby bridging the gap underserved by the traditional banking systems and offering individuals convenience, reliability, and security when it comes to digital wallet payments and remittance.

The integration represents a significant milestone in the pursuit of financial inclusivity, reinforcing Changera’s position as a trailblazer in the African Fintech landscape.

The post Changera Integrates with MoneyGram, Users to Enjoy Cash-to-Crypto Deposits and Withdrawals appeared first on Tech | Business | Economy.

Bitmama.io closed this funding from a group of foreign and domestic investors ten months after its initial pre-seed round of $350,000.

The latest round is led by Unicorn Growth Capital and Launch Africa Ventures, with participation from Adaverse and follow-on from Flori Ventures, which led its earlier pre-seed round. New investors in the round include, Tekedia Capital,  GreenHouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa,  Angellist Ventures, and angel investors including, CELO founders; Rene Reinsberg, and Marek Olszewski, and Honey Ogundeyi.

Bitmama’s new pre-seed round will be used to expand the company’s operational presence, strengthen its team across different markets, consolidate its product offerings, and plot market penetration across Africa, while rapidly scaling new use cases for cryptocurrency within the continent.

At present, the company’s major products are the Bitmama exchange, which allows users to access virtual assets and explore several cryptocurrency use cases, then Changera, a social payment solution that allows non-crypto-savvy customers to use their money without limits, from anywhere in the world.

Bitmama is a highly-secure blockchain payment platform pinoneering “Crypto Beyond Trading” for Africans globally.

The company is approaching the African crypto market differently by promoting the awareness and adoption of crypto through innovative product offerings including its virtual crypto debit cards, which afford over $10,000 in monthly spending limits. 

Powered by VISA, these cards are funded with stablecoins and can work anywhere in the world for online transactions.

Currently in three African markets; Nigeria, Ghana, and Kenya, Bitmama’s users are able to trade several cryptocurrencies, use their debit cards for regular online payments, pay utilities and  perform transactions such as staking to hedge against currency devaluation. 

Bitmama has built a distributed remote team across Ghana, Nigeria, and Kenya , working to democratize the highly fragmented payment system in Africa. The goal, according to the team, is to leverage the blockchain in building solutions to power seamless peer-to-peer payments across the continent.

Ruth Iselema, Founder and CEO of Bitmama Inc. while commenting on the round said ”Bitmama has made a number of strides in the past year. We’ve rolled out two products, both of which are fast closing in on 100,000 users across the African market and recording impressive daily active users across our range of product offerings despite the market dynamics. We are building Africa’s most user-friendly, innovative blockchain company, and we are glad to have the backing of seasoned investors and partners who have walked similar turfs. We are privileged to learn from their blended experiences across corporate and blockchain business verticals. We’re  confident of the results we’ve achieved so far and  we’re set to build the next big solution that the market deserves.”

Also speaking on the round, Janade Du Plessis, Managing General Partner at Launch Africa said “As a prominent Pan-African VC fund, we see our partnership with Bitmama as a way to truly allow all Africans with the ability to trade and manage cryptocurrencies, and digital assets conveniently and universally, creating a significant impact on allowing more people to trade and transact across Africa.  This is something that we specifically value in our Fund and what Bitmama in particular delivers.”

Hema Vallabh, Founding Partner at Five35 Ventures said “Being a leading female-focused VC fund, we at Five35 Ventures look forward to helping Ruth and her dynamic team scale Bitmama, especially seeing the growth of Changera, the remittance platform that allows all Africans to transact internationally at much cheaper rates than established remittance companies in the market.”

The post Blockchain Payments startup Bitmama secures $2m Pre-seed to Grow its Operation in New Markets appeared first on Tech | Business | Economy.