Cantor8 has signed exclusive memoranda of understanding with Yiksi Limited to convert M-PESA and EVC Plus mobile money balances into crypto payment assets via the Canton Network.
- Cantor8 has signed exclusive memoranda of understanding with Yiksi Limited to convert M-PESA and EVC Plus mobile money balances into...
- The deal targets a direct gap of millions of active mobile money users across East Africa and Somalia with no...
- The Canton Network settles transactions atomically instantly, in a single operation, with no funds held in transit and no intermediary...
- Cantor8, founded by Oxbridge alumni and DAML developers, operates as the primary infrastructure provider for the Canton Network ecosystem.
Keep reading for the full breakdown on Africa — everything you need to know is covered below.
The deal targets a direct gap of millions of active mobile money users across East Africa and Somalia with no access to global digital asset infrastructure.
How the integration works
Yiksi Limited is the cryptocurrency exchange arm of Taran App, a fintech platform operating across Africa.
Cantor8 will route mobile money transactions through the Canton Network using Taran App’s existing infrastructure, with Yiksi Limited handling the conversion between mobile money balances and digital assets.
Cantor8’s C8 Registry token issuance engine brings M-PESA and EVC Plus balances directly onto blockchain rails.
The Canton Network settles transactions atomically instantly, in a single operation, with no funds held in transit and no intermediary between sender and recipient.
Transaction details, including counterparties, balances, and timing, remain private, while tamper-proof audit trails are available only to authorised regulators.
Cantor8 described the integration as the opening move in a wider rollout across additional African nations and mobile money ecosystems.
Once live, M-PESA and EVC Plus users will be able to hold, convert, and transfer dollar-denominated digital assets using the same device they already use for daily payments.
The target is a connected crypto payment system across Africa built on mobile money as its entry point and Canton Network rails as its settlement layer.
Cantor8, founded by Oxbridge alumni and DAML developers, operates as the primary infrastructure provider for the Canton Network ecosystem.
Why Cantor8 target Africa’s mobile money markets
In Somalia, formal banking penetration is roughly 15 per cent, held back by a scarcity of branches and documentation requirements. EVC Plus, operated by Hormuud Telecom, filled that gap and now serves nearly 5 million users who rely on it for daily transactions.
Over 87 per cent of Somalia’s population uses mobile money services, ranking the country among the highest adoption rates in the world.
Since the collapse of the region’s central banking infrastructure in 1991, mobile money has functioned as the economy’s operating layer, not a supplement to banking but a replacement for it.
Also, Kenya’s numbers tell the same story from a different angle. M-PESA accounts for over 90 per cent of the value of mobile money transactions in the country.
As of 2025, 85 per cent of Kenyan adults accessed financial services through digital platforms, and SIM subscriptions reached 78.4 million, a penetration rate of nearly 150 per cent.
Rural communities remain underserved by physical branches, making mobile money the default financial tool rather than an alternative.
Both markets are driven by three shared conditions, including minimal banking infrastructure, high mobile penetration, and currencies that have pushed businesses toward the US Dollar and digital platforms.