Pan-African cryptocurrency platform, Mara has raised $23 million in funding, seeking to create a portal to the crypto economy for Africans.
Investors who took part in the funding include TQ Ventures, Coinbase Ventures, Nexo, Alameda Research (FTX), Distributed Global, DIGITAL, Huobi Ventures, Day One Ventures, Infinite Capital, and DAO Jones.
In addition, the firm has also announced a partnership with the Central African Republic (CAR), which just passed a bill to legalize Bitcoin as legal tender. As part of this partnership, the company will become the official crypto partner of the CAR and an adviser to the president on crypto strategy and planning.
The firm will initially launch in Kenya, Nigeria, and surrounding regions, both in the App Store and Google Play store.
Once onboarded, the Wallet will enable users to invest in crypto and send money to their family members in real time.
The Mara suite of products addresses a variety of crypto-finance needs with the following features:
- Mara Wallet – a brokerage app offering users an experience through which they can buy, send, sell and withdraw both fiat and crypto assets instantly.
- Pro-Exchange – a cryptocurrency platform focused on experienced users that offers a comprehensive suite of trading options and technical analysis tools.
- Mara Chain – a Layer-1 blockchain that gives savvy developers a place to build decentralized applications to help shape the future of the African crypto economy.