Tether-Backed Mansa Secures $10M for Stablecoin-Driven Cross-Border Payments

Mansa, a fintech startup, has secured $10 million in funding led by Tether to revolutionize cross-border payments using stablecoins. Stablecoins are cryptocurrencies designed to minimize price volatility by pegging their value to a stable asset like the US dollar.

• Mansa secured $10M from Tether for stablecoin-driven payments.
• Aims to expand into Latin America and Southeast Asia.
• Global cross-border payments market projected to reach $290.2 trillion by 2030.

Since its inception in August 2024, Mansa has been on a mission to make transactions more fluid in emerging markets. The company, co-founded by Mouloukou Sanoh and Nkiru Uwaje, has processed over $27 million in transactions, with a staggering $11 million in on-chain volume recorded in January 2025 alone—a 574% increase from their starting months. This growth isn’t just about numbers; it’s a testament to the increasing adoption of stablecoins for streamlining international payments.

Mansa’s funding breaks down into $3 million from a pre-seed round and $7 million in liquidity financing. Tether, the issuer of USDT (Tether’s stablecoin), led the round, with co-investors like Polymorphic Capital, Octerra Capital, Faculty Group, and Trive Digital rallying behind them. Tether’s involvement isn’t just a financial boost; it’s a vote of confidence in the potential of stablecoin technology to disrupt traditional financial systems.

But why should you care about Mansa? The global cross-border payments market was valued at $190.1 trillion in 2023 and is projected to balloon to $290.2 trillion by 2030. That’s a lot of zeros, and Mansa’s stablecoin solution is poised to cut through the high costs and slow speeds of traditional remittance services, which currently charge an average of 6.5% in fees. Mansa isn’t alone in this space; other players like Cobo with its stablecoin payment solution and PayPal’s Xoom using PYUSD (PayPal USD) are also diving into the stablecoin pool. Additionally, USD Coin (USDC) has been integrated into banking systems in Brazil and Mexico.

Mouloukou Sanoh, Mansa’s CEO, sums up the significance of this funding:

“Securing $10 million in pre-seed and liquidity funding marks a significant milestone in our mission to transform the way money moves.”

Mansa’s partnerships with payment providers across Africa, Asia, and South America highlight its ambition to create a global network that can take on the world. With this new funding, Mansa aims to expand into Latin America and Southeast Asia, regions hungry for efficient payment solutions.

While the future of stablecoin payments looks bright, it’s not without its challenges. Regulatory hurdles, volatility risks, and the need for widespread adoption are significant obstacles. For instance, Tether itself has faced scrutiny over the stability of its peg to the US dollar. However, the potential to drastically cut remittance fees and speed up transactions is a game-changer that can’t be ignored. The irony here is that traditional finance, often slow to embrace new technology, is now turning to blockchain to solve some of its oldest problems.

So, where does Mansa fit into the broader financial revolution? The company’s focus on using stablecoins to address liquidity issues in emerging markets aligns perfectly with the ethos of decentralization and effective accelerationism (e/acc). By championing these principles, Mansa is not just a fintech startup; it’s a beacon of change in the financial landscape.

Yet, as a bitcoin maximalist, one might wonder how stablecoins fit into the grand scheme of things. While Bitcoin remains the king of cryptocurrencies, stablecoins serve a unique purpose in filling niches that Bitcoin itself might not target, such as providing instant liquidity for cross-border payments. This doesn’t diminish Bitcoin’s role; rather, it highlights the diverse ecosystem of cryptocurrencies working together to reshape finance.

Key Questions and Takeaways

What is Mansa’s primary focus?

Mansa focuses on using stablecoins to streamline global payments and reduce transaction costs, particularly addressing liquidity issues in emerging markets.

How much funding did Mansa secure, and who led the round?

Mansa secured $10 million in funding, with Tether leading the round.

What regions is Mansa planning to expand into?

Mansa plans to expand into Latin America and Southeast Asia.

What is the current state of the cross-border payments market?

The global cross-border payments market reached $190.1 trillion in 2023 and is expected to grow to $290.2 trillion by 2030.

How are other companies using stablecoins for cross-border payments?

Other companies, such as Cobo with its stablecoin payment solution and PayPal’s Xoom using PYUSD, are also leveraging stablecoins to improve payment efficiency. Additionally, USDC has been integrated into banking systems in Brazil and Mexico.