Canza Finance has partnered with stablecoin issuer WSPN to provide secure and efficient financial solutions to users in Africa and other emerging markets.
With the integration of WUSD into Canza Finance’s ecosystem, African users will be able to smoothly convert fiat currencies to the WUSD stablecoin.
Boosting RWA and DeFi Adoption
Africa-focused fintech firm Canza Finance has partnered with stablecoin issuer WSPN to boost real-world asset (RWA) and decentralized finance (DeFi) adoption.
The partnership aims to provide accessible, secure, and efficient financial solutions to users in Africa and other emerging markets.
The collaboration will leverage WSPN’s WUSD stablecoin, which is fully collateralized and pegged 1-to-1 to the U.S. dollar. Commenting on how users in Africa will benefit from the arrangement, the statement said.
“With the integration of WUSD into Canza Finance’s ecosystem, users in African and emerging markets will enjoy the smooth conversion of African fiat to WUSD, using a stable and trustworthy digital currency for various financial transactions, including remittances, payments, and savings.”
To help enable this arrangement, Canza Finance has created the “first” scalable on-chain adaptation. This adaptation, which uses official central banks’ official exchange rates, lets users transact in local currencies on the blockchain without worrying about exchange rate fluctuations.
The fintech firm will also aggregate RWAs on a new marketplace, offering investors a more efficient experience and RWA providers a wider reach.
Overall, the Canza Finance and WSPN collaboration is said to be a significant step toward bridging the financial exclusion gap and promoting financial freedom in underserved markets.
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