Coinbase Ventures, Mara Launches Crypto Wallet Service in Africa

  • A new-comer crypto wallet is set to be onboarded across Africa.
  • The crypto wallet will be backed by global firms like Coinbase Ventures, Alameda Research, Huobi.

Coinbase backed Mara is ready to launch its crypto wallet service for Sub-Saharan Africa. The wallet is aimed to provide major financial freedom, and to help its users to get more knowledge about cryptocurrency and blockchain industry in Africa.

Mara: Empowering Africans’ Dreams

The Mara wallet will be offering cryptocurrency brokerage services with the help of its app. The app will offer its users to buy, send, sell and withdraw fiat and crypto currencies. This will also give access to the educational resources that aimed on cryptocurrencies and personal finance management.

Millions of users across Africa are set to get started on a new cryptocurrency wallet, Mara. Mara is known as Africa’s digital finance ecosystem with demystified blockchain technology. It is designed to build digital wealth while leveraging blockchain technology.

The crypto wallet will be onboarding a portion of the waitlist with an invite-only process, started from October 27, 2022. The invite-only process will be followed by onboarding the users in the African country, Kenya and Ghana.

Mara project is backed by popular cryptocurrency industry firms that have raised about $23 Million in a fundraising round offered by Coinbase Ventures, Alameda Research, Huobi and some other investors and venture individuals.

In addition, the Mara Foundation, a non-profit enterprise that empowers emerging entrepreneurs in Africa also partnered with a global financial technology firm, Circle on September 29, 2022 to build solutions that drive long-term positive social, economic and environmental change in the Country.

The following partnership between Mara Foundation and Circle will  be co-hosting a developer roadshow across Kenya and Nigeria in October from 21st – 29th October, 2022, to engage with African web3 developers. The roadshow will include hands-on workshops, panel sessions, demos, and talks on blockchain technology, finance, cybersecurity, design thinking, and more.

It will also introduce Circle to the local technology communities, and raise awareness about the Mara Foundation and Circle partnership and serve as building blocks for a robust African innovation ecosystem.

The first effort to reach out and train one Million developers on the continenet was a hackathon dubbed “Hack the Mara,” It was aimed at building payment solutions to support Kenya’s Maasai communities and improving the financial sustainability of conservation projects.

Maasai Mara National Reserve in Kenya is set to benefit from the initiatives aimed at fostering developers and payment solutions in East Africa. However, the top-three winning teams out of 24 local developers were awarded a share of $100,000 in prizes and got the entry in a startup accelerator program to continue their product development.

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