MiniPay Launches $40M Fund to Boost Stablecoin Startups in Africa
MiniPay, a stablecoin wallet owned by Opera and built on the Celo blockchain, has launched a $40 million fund to support startups. The fund, backed by Verda Ventures and Opera, aims to foster a robust ecosystem around the wallet and promote everyday financial use cases within national economies.
MiniPay's investment committee swiftly decides on investments, typically within a week, allocating between $250,000 and $1 million to startups. Notably, the fund does not impose exclusivity clauses on the supported startups. Some of the beneficiaries include Pretium Africa, Partna, Mento, and Mural, operating across Africa.
MiniPay serves as a potent distribution channel, offering startups immediate access to its rapidly expanding user base. The wallet simplifies access to stablecoins, enabling users to send money using just a phone number and pay fees in the same token. This user-friendly approach has led MiniPay to become the fastest-growing non-custodial wallet in Africa and top the Kenyan Google Play Store.
With its $40 million fund, MiniPay is actively supporting startups that integrate with its wallet, fostering innovation and growth in the stablecoin ecosystem. By providing access to a growing user base and simplifying stablecoin usage, MiniPay is driving everyday financial inclusion in Africa.
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