Tether backs stablecoin liquidity provider Mansa in $10M seed round

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 Mansa, whose offering allows payments companies, mainly in Africa to date, to settle transactions and fund customer accounts instantly. The startup has raised $10 million in seed funding including both equity and debt. Stablecoin provider Tether led the $3 million equity investment. The funds will support the company’s expansion into Latin America and Southeast Asia, regions where liquidity challenges also limit cross-border transactions. Mansa says its model improves clients’ cash flow at a lower cost than fiat alternatives, positioning it as a key player in the future of payments. Its co-founders, CEO Mouloukou Sanoh and COO Nkiru Uwaje, bring several years of expertise in finance, payments and web3. Sanoh, an investor in several Africa ... Read full article.