Nairobi-based FinTech Mara Launches African Crypto Wallet Service

Mara, a new crypto project, has been added to the African crypto community. This project is backed Coinbase Ventures. Alameda Research and Huobi Ventures are FTX-affiliated.

Mara, a digital financial system project, appears to be just beginning with the launch a cryptocurrency wallet in Nigeria for users who have signed up.

Mara has already raised $23 million through fundraising. There is a waiting list of over 3 million people, most of them Nigerians. The wallet app is in the process of being rolled out across other countries including Ghana and Kenya. 

Chi Nnadi (co-founder, CEO) says Mara was specifically designed for Africa’s crypto market using money transfer services. He also suggested a wider range of financial products to make Mara stand out from other global exchanges and brokerages.

Mara wallet will provide services like cryptocurrency brokerage services, which will allow users to send, buy, sell, and withdraw cryptocurrency. fiat The crypto. It will also allow users to access a U.K. entity, which allows them to access dollars and pounds that can be used for buying and selling crypto.

The wallet app will also contain educational resources about cryptocurrencies and personal financial management that users can access at any time. 

To foster blockchain development in Africa, a nonprofit foundation called Mara foundation will be launched along with the wallet app. 

Mara hopes to train 1,000,000 developers across the continent through this non-profit foundation. The foundation also provides free resources for financial literacy, Web3 education, and cryptocurrency education in many languages.

Mara Chain, which is a layer-1 blockchain solution that the project plans to launch before 2022, is another goal. The native token will allow developers to create decentralized applications.

Mara is not alone in launching products to promote crypto adoption across the continent. Sango, the Central African Republic’s national crypto hub was also launched recently by the CAR.

Project Sango is a project that aims to showcase the potential of Blockchain technology on a number of fronts. As it seeks to restore economic growth and global connectivity, the project aims to attract companies to the country.

Image source: Mara

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