WSPN partners with African FinTech Canza Finance

By Gloria Methri

WSPN, a global digital payments company, has announced a strategic collaboration with Canza Finance, a FinTech company focused on Africa. The partnership aims to accelerate the adoption of Real-World Assets (RWA) and Decentralized Finance (DeFi) solutions across Africa and other emerging market regions.

The partnership aims to provide innovative financial solutions that are accessible, secure, and efficient by leveraging digital payment solutions from WSPN and Canza Finance’s deep understanding of the African financial landscape.

The African market is poised for huge financial changes, with a rapidly growing population and increasing internet penetration. However, traditional financial services often fall short in reaching the unbanked and underbanked populations. This partnership seeks to bridge that gap by introducing advanced Web3 financial solutions, enabling individuals and businesses to access financial services that were previously out of reach.

At the heart of this collaboration is WSPN’s stablecoin, WUSD. Designed to provide stability and reliability, WUSD is a fully collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. 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.

Canza Finance has built the first scalable on-chain adaptation of African currencies at 1:1 parity with Central bank rates. This innovative approach ensures stability and trust for users transacting with local currencies on the blockchain. Baki offers a solution for hedging against currency devaluation, addressing a crucial need in these markets.

Canza Finance also aggregates Real-World Assets (RWAs) on a new marketplace. Having serviced over 300 institutions and agents, this platform streamlines investors’ access to high-quality assets while expanding RWA providers’ market exposure. The result is a more efficient experience for investors and a broader reach for RWA providers.