Canza Finance, a fintech company focused on Africa, has teamed up with stablecoin issuer WSPN to offer secure and efficient financial solutions to users in Africa and other emerging markets. The partnership integrates WSPN’s WUSD stablecoin into Canza Finance’s ecosystem, allowing users to easily convert their local fiat currencies into the WUSD stablecoin.
Boosting RWA and DeFi Adoption in Emerging Markets
The collaboration aims to increase the adoption of real-world assets (RWA) and decentralized finance (DeFi) in underserved regions. WUSD, a fully collateralized stablecoin pegged 1-to-1 with the U.S. dollar, will play a central role in this initiative. The stablecoin provides a reliable digital currency for various financial transactions, including remittances, payments, and savings.
Canza Finance has developed a scalable on-chain adaptation that uses official central bank exchange rates. This system allows users to conduct transactions in local currencies on the blockchain without the risk of exchange rate fluctuations. This feature is particularly beneficial for users in volatile markets, providing a stable and trustworthy financial option.
Enhancing Financial Inclusion and Access
Additionally, Canza Finance will introduce a new marketplace to aggregate RWAs, offering investors a streamlined experience and providing RWA providers with greater market access. The partnership with WSPN is seen as a crucial step towards reducing financial exclusion and promoting financial freedom in Africa and other emerging markets.
