Cardano in Africa partners with Emurgo to support cross border payments

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  • Adaverse Accelerator is a Cardano ecosystem accelerator aggregating entrepreneurs, strategies and mentors innovators.
  • Emurgo is the official commercial arm and a founding entity of the Cardano blockchain.
  • Emurgo Africa recently announced that itself and Adaverse accelerator were forming a partnership that would lead to the development and expansion of BoundlessPAY.

Cardano has had its sights on Africa’s crypto ecosystem for some time now. From the get-go, Cardano has made it clear that it has acknowledged Africa’s potential within the upcoming 4th Industrial revolution. It seeks to be a core contributor to the continent’s growth on Web3. Over the past few years, Cardano has sought to develop various African blockchain platforms to support web3 projects such as CBDC and establish crypto education platforms. In recent news, Cardano’s ecosystem accelerator Adaverse has partnered with Emurgo Africa to support an African cross-border payment project, BoundlessPay.

Both these organizations have catered to and pioneered the development of Web3 in Africa.

Cardano in Africa; The parties involved.

Who are Emurgo Africa

Emurgo is the official commercial arm and a founding entity of the Cardano blockchain. It is a blockchain technology company that provides solutions to developers, startups, enterprises, and governments. Its main aim is the globalization of Web3, and it has established several offices in critical areas such as the US, Singapore, India, Indonesia and Africa.

Also, Read Why Cardano is investing in African Blockchain Solutions.

Emurgo Africa is one of the regional offices of this global blockchain n company. This is because Africa is primarily compatible with Web3, given its diverse ecosystem. Currently, numerous organizations are trying to establish various blockchain platforms in Africa. Emurgo Africa is another entity in the race to dominate Africa’s crypto market.

Emurgo
Emurgo is a blockchain platform that seeks to support every African web3 project to propel the growth of blockchain technology.[Photo/Emurgo]

Adaverse Accelerator.

Adaverse Accelerator is a Cardano ecosystem accelerator aggregating entrepreneurs, strategies and mentors innovators. Adaverse’s central vision is to utilize its smart contract functionalities to enable a wide range of DeFi applications to thrive in Cardano ecosystems and relatively Cardano in Africa. IT facilitated the growth of selected projects and the success of entrepreneurs building on Cardano’s blockchain environments. It has a plethora of mentors, resources and different strategies that aid blockchain startups throughout the entire globe.

Adaverse has pioneered many African web3 projects in countries such as Nigeria, assisting in its steady web3 growth. The organization has utilized at least $100 million in funding several African cross-border payment services and marketplaces. It has supported the growth of Zimbabwean-based pan-African freelance marketplace Afriblocks and Cassava Network, an African web3 project. In addition, it has helped the expansion of Stakefair, a DeFi startup, among others.

Cardano in Africa presents Boundlesspay.

Emurgo Africa recently announced that itself and Adaverse accelerator were forming a partnership that would lead to the development and expansion of BoundlessPAY.

BoundlessPay
BoundlessPay seeks to establish a cross-border payment in Africa through the help of the blockchain platform Emurgo Africa and Adaverse accelerator.[Photo/Technext]
It is a digital banking platform that established Cross border payment in Africa. This African web3 project is currently running a pre-seed fundraising event as it sees funds to embark on its development this year. Thus Adaverse accelerator and Emurgo are among its top venture capitalists participating in the fundraiser.

Also, Read Why African Blockchain startups need more incubators and accelerators.

Shogo Ishida, Co-CEO at Emurgo Middle East & Africa, stated that BoundlessPay is an African blockchain platform that has taken a unique approach to establish cross-border payments in Africa. He further stated that Emurgo Africa is determined and excited to support this African web3 project to build a dominant Web3 platform within the continent.

Vincent Li, a founding partner at Adaverse, stated that BounclessPay’s capabilities are beyond regular cross-border payments in Africa. Adaverse accelerator believes this African web3 project can potentially be an impactful Web3 platform that can quickly propel the various Blockchain platforms in Africa. Adaverse has clarified that it intends to propel BoundlessPay by connecting it to global resources within Cardano in Africa and the globe.

How it works

BoundlessPay is a global digital banking application that caters for cross-border payments in Africa. It utilizes blockchain technology to solve remittance and payment problems. It seeks to utilize Cardano in Africa to expand its global reach. By leveraging Web3 technology, this blockchain platform can build an affordable, fast, easy-to-use payment system.

BoundlessPay has a mobile and web platform. This was a strategic move to capitalize on the Mobile Economy of Africa while still maintaining its reachability. The platform operates on USD-pegged stablecoins like USTD and Cardano USDA. This is an alternative way o store and spends money locally and globally. In addition, users can access virtual;l USD cards and virtual fair accounts.

Conclusion

Cardano in Africa mainly aims at promoting and supporting various African blockchain platforms, and doing this is essentially “teaching Africa how to catch the fish”. Cardano in Africa is trying to teach the innovative minds in the continent how to develop their blockchain platforms.

Also, Read Adanian labs accelerate the growth of startups in Africa.

This significantly sparks the flame of progress compared to simply establishing various African branches. Through this, we can learn how to stand up on our feet and develop revolutionary African web3 projects that directly address the various issues we face as a continent. BounclessPay is among the few African blockchain platforms that pioneer this vision.

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Ken Mutuku
Ken Mutuku
I am an enthusiastic writer who believes that facts, knowledge and opinions can be expressed vividly with just a few words. I think that all forms of writing achieve this; hence I have a wide area of expertise and interest, such as cryptocurrency, psychology and the human mind.