Fintech
WSPN and Canza Finance Partner to Revolutionize Financial Services in Africa and Emerging Markets
July 29, 2024
Written by FinTech Alliance in Financial Technology
WSPN, a global leader in digital payments, has partnered with Canza Finance, a financial technology innovator in Africa, to advance the use of Real-World Assets (RWA) and Decentralized Finance (DeFi) in Africa and other emerging markets. This collaboration aims to improve financial inclusion and provide advanced financial solutions to underserved populations.
– The partnership aims to bridge the gap in traditional financial services for the unbanked and underbanked populations in Africa by introducing advanced Web3 financial solutions. This initiative leverages WSPN’s digital payment technologies and Canza Finance’s local market expertise.
– At the heart of the collaboration is the integration of WSPN’s stablecoin, WUSD, into the Canza Finance ecosystem. This fully collateralized stablecoin, pegged 1:1 to the US dollar, facilitates the smooth and stable conversion of African fiat currencies for various transactions, enhancing financial stability and user confidence.
– Canza Finance offers the first scalable on-chain adaptation of African currencies at par with central bank rates via Baki exchange, providing stability and addressing currency devaluation. Additionally, Canza aggregates Real-World Assets on a new market, simplifying access for investors and expanding market exposure for asset providers.