MANSA, a global decentralised finance (DeFi) platform providing liquidity to cross-border payment companies, has reported transaction volumes exceeding $3 million in its first month of operations.
The company, which launched its first liquidity pool on Base in September, aims to address financing challenges faced by payment providers, particularly in emerging markets.
Cross-border payment companies often grapple with high transaction fees, lengthy settlement times, and regulatory complexities across jurisdictions.
Mouloukou Sanoh, CEO and co-founder of MANSA, said, “Surpassing $3 million in transaction volume just one month after launch demonstrates the significant role decentralised finance can play in supporting payments companies globally.”
MANSA’s client base includes Bitmama, a company facilitating multi-currency cross-border payments for businesses and individuals. While initially focused on African payment companies, MANSA plans to expand into Asian, Middle Eastern, and Latin American markets over the next year.
The company’s growth comes amid ongoing challenges in the cross-border payments sector. According to industry data, international payment fees currently average 1.5% for corporates and as much as 6.3% for remittances. MANSA aims to leverage blockchain technology to reduce financial and logistical barriers in this space.
MANSA’s early traction in the DeFi sector may signal growing interest in blockchain-based solutions for traditional financial services challenges. However, the long-term viability and regulatory landscape for such services remain areas of ongoing discussion in the financial industry.
