Stablecoin issuer Tether backs MANSAâs $10 million funding in a bid to streamline liquidity for global payments.
Cross-border fintech firm MANSA, focused on solving liquidity challenges in payments, has secured $10 million in a funding round led by Tether, with additional support from investors like Polymorphic Capital, Octerra Capital, and Faculty Group.
In a Feb. 20 press release, the Dubai-based firm said it has also raised funds from institutions, corporate investors, and alternative funds. With the funding, MANSA wants to expand its services in Latin America and Southeast Asia, where liquidity issues often slow down cross-border payments, the firm explains. MANSAâs chief executive Mouloukou Sanoh says the funding marks âa significant milestone in our mission to transform the way money moves.â
âBy bringing payments on-chain and leveraging efficient liquidity solutions, we are addressing critical challenges in cross-border transactions â making payments faster, cheaper, and more reliable worldwide.â
Mouloukou Sanoh
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MANSA 由 Mouloukou Sanoh 和 Nkiru Uwaje 于 2024 年 8 月推出,该公司声称其流动性解决方案已促成 2700 万美元的交易量,仅 1 月份的链上交易量就达到 1100 万美元。
10 月初,区块链取证公司 Chainalysis 报告称,稳定币已成为撒哈拉以南非洲加密经济的重要组成部分,占该地区总交易量的 43% 左右。
正如 crypto.news 之前报道的那样,在面临本币不稳定和美元使用受限的国家,像 Tether 这样的与美元挂钩的稳定币已经获得了关注。它们为企业和个人提供了一种存储价值、促进国际支付和支持跨境贸易的方式。
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U.S. stocks closed lower on Wednesday after the Federal Reserve released the minutes from its May policy meeting.
The Dow Jones Industrial Average lost 0.58%, or 245 points, while the S&P 500 and Nasdaq Composite indices fell 0.56% and 0.51%, respectively. The central bankâs minutes indicated a cautious approach to monetary policy and warned of âdifficult tradeoffsâ ahead if inflation persists.
âParticipants agreed that uncertainty about the economic outlook had increased further, making it appropriate to take a cautious approach until the net economic effects of the array of changes to government policies become clearer,â a CNBC transcript of the minutes read. âParticipants noted that the Committee might face difficult tradeoffs if inflation proves to be more persistent while the outlooks for growth and employment weaken.â
In trade talks, U.S. President Donald Trump pushed back against a Financial Times columnist who coined the term âTACO trade,â or Trump Always Chickens Out, a reference to the Presidentâs tendency to delay tariff implementations. Trump said his tactics are part of a negotiation strategy and that trading partners like the European Union are eager to reach deals.
Meanwhile, strong earnings from key retailers signaled that consumer spending remains robust. Shares of Abercrombie & Fitch Co. gained 14% after the company reported strong first-quarter results and guided for full-year net sales growth of 3% to 6%. On the other hand, shares of HP plunged 15% after missing earnings expectations and issuing a disappointing outlook due to âadded costsâ from tariffs.
Nvidia shares moved higher in extended trading after posting a top- and bottom-line beat. The company reported EPS of 96 cents on revenue of $44.06 billion, topping estimates of 93 cents per share and $43.31 billion. Data center revenue grew 73% year-over-year, though the company missed out on $2.5 billion in sales due to export restrictions on chips bound for China. The gross margin for the quarter was 61%, which would have been 71.3% without the new China-related charges.