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Creating the Portal to the Crypto Economy for the African Population

This week MARA, a Pan-African crypto exchange was launched and announced $23 million in funding from Coinbase Ventures, Alameda Research (FTX), Distributed Global, TQ Ventures, DIGITAL, Nexo, Huobi Ventures, Day One Ventures, Infinite Capital, DAO Jones, and nearly 100 other crypto investors, and angels including Amit Bhatia and Hamad Alhoimaizi. In addition, MARA has also announced a partnership with the Central African Republic, which just passed a bill legalizing Bitcoin as legal tender. As part of this partnership, MARA will become the official crypto partner of the Central African Republic and an advisor to the President on crypto strategy and planning. MARA’s launch comes at a critical inflection point in Sub-Saharan Africa. Political and economic instability has led to the devaluation of currencies across the region, while the current centralized financial system continues to present ongoing obstacles to the development of both local economies and individuals. As a result, food prices have doubled to tripled in some areas and created record-breaking interest rates. These tired systems have prompted a dire need for a decentralized alternative.

SOURCE: VENTURES AFRICA