Changera, a cross-border payments startup, has partnered with MoneyGram, a worldwide pioneer in digital peer-to-peer payments, and the open-source Stellar network. This collaboration will allow customers to make cash-to-crypto deposits and withdrawals worldwide.
Changera was established in 2021 with the goal of facilitating effortless and safe cross-border payments and remittances for its customers. The fintech platform is focused on businesses in Nigeria, Ghana, Kenya, and Canada with its value proposition.
This integration is a major step towards Changera’s mission of providing access to cross-border payments for individuals and businesses globally. Changera is now offering cash-in services in Canada, Senegal, Uganda, and Kenya, as well as cash-out services using USDC, Circle’s stablecoin, through the Stellar blockchain network. These services are available at participating MoneyGram locations in over 180 countries.
Speaking on the integration, Ruth Iselema, the Chief Executive Officer of Changera, said, “The primary objective of this integration is to simplify the process of funding Changera wallets for users. Our solution is coming very timely because 1.4b people currently don’t have bank accounts globally. That`s approximately a quarter of the world’s population, and 60% of adults worldwide work in the cash economy despite access to digital wallets. MoneyGram’s extensive network of agents will allow easier deposit and cash transfers in these regions and recipients will have unparalleled access to cash out their funds conveniently. This is the first collaboration of its kind between MoneyGram and a Fintech company in Africa, outside of traditional banking institutions. We’re proud to be pioneers of such.”
Changera’s customers can now benefit from direct cash deposits and withdrawals, which is a significant improvement. This advancement allows them to access their funds quickly and securely, without any previous limitations. As per the company, individuals in Canada, Senegal, Uganda, and Kenya will experience cost savings and faster transactions when they deposit cash into their Changera Wallets at MoneyGram agents closest to their location.