DeFi adoption surges in Africa as Opera’s MiniPay surpasses 1 million users
- Opera MiniPay has signed up over one million users in Kenya, Nigeria, and Ghana.
- MiniPay offers a self-custodial wallet for dollar stablecoins, providing a stable way to store and send money using digital assets.
- The move towards DeFi in Africa is driven by high inflation rates and battered currencies.
The rising popularity of decentralized finance (DeFi) tools in Africa, as seen through the success of Opera MiniPay and other startups, is a positive development for the continent. With high inflation rates and battered currencies, DeFi offers a stable and accessible alternative to traditional financial services. The efforts of organizations like Canza Finance and the Africa DeFi Alliance to provide capital and support to African businesses further contribute to the growth of the DeFi ecosystem in Africa.
