Coinbase backed Mara is set to introduce Crypto Wallet Service across Africa
Many continents are making impressive progress in the crypto space, and Africa is not left out. Many people and even businesses from Africa have plunged into the cryptosphere. Gradually, digital assets are becoming a lucrative option on the continent.
Such growth in crypto adoption has drawn the attention of crypto projects to the continent. Mara is one of the projects that focuses on African countries despite being a new player in space. In addition, the digital financial ecosystem project has launched a digital wallet for its customers in Nigeria.
Subsequently, part of the waiting list will come on board through a strict invitation process. After that, the follow-up process will go to users on board in Ghana and Kenya.
Coinbase and Alameda Research back crypto firm Mara
Some giant companies in the crypto industry support Mara. It generated around $23 million during a fundraising round in the first half of the year. The round’s pioneers include Alameda Research, Coinbase Ventures, Huobi and other venture capitalists and investors.
The firm has planned to make its first move in Nigeria and Kenya. The crypto project will provide users with a platform to acquire, withdraw and trade digital assets.
With the launch of the Mara wallet, users could access crypto brokerage services seamlessly through the app. Therefore, they could buy, sell, send, trade and withdraw their fiat and crypto assets. The app will also include educational resources about digital assets and other personal financial management.
Besides the wallet from the project, there is also the launch of the Mara Foundation. It is a non-profit based foundation that focuses on the aggressive drive of blockchain and sustainable development in Africa. Circle also partners with the foundation through its USD Coin (USDC) and Euro Coin (EUROC). It plans to create a higher driving force for stablecoins.
Mara shows interest in Web 3
Mara’s digital asset project is interested in Web 3 and blockchain development. The aim is to train around 1 million developers on the African continent. The first step was through a hackathon labeled “Hack the Mara.”
It focused on building payment solutions to power the Maasai communities in Kenya. It also plans to improve the financial sustainability of conservation projects.
The Maasai Mara is a significant ecological and wildlife conservation area in Kenya. The site is meant to pursue plans to promote developers and payment solutions in East Africa. There has been a split award of $100,000 prizes to the top 3 teams of 24 local developers.
They also introduced a startup accelerator program to improve their product development.
The Mara Foundation planned to launch an educational community offering multiple languages. This community will provide training in several areas such as cryptoassets, financial literacy, Web 3 and blockchain education.
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