Changera, a burgeoning cross-border payments firm, has partnered with MoneyGram, a world pioneer in the development of digital P2P payments and the open-source Stellar network, to facilitate cash-to-cryptocurrency deposits and withdrawals for consumers across the world.
Changera’s goal is to expand access to international financial transactions for individuals and companies, and this integration represents a major step in that direction. Changera now supports deposits in Canada, Senegal, Uganda, and Kenya, and withdrawals in USDC, Circle’s stablecoin, at MoneyGram channels in 180+ countries over the Stellar blockchain network.
As the first African-based custodial wallet to collaborate with MoneyGram, Changera is taking a major stride ahead with this integration, extending its reach globally. Withdrawals are accessible to both current and new customers across the world, and users in Canada, Senegal, Uganda, and Kenya may benefit from lower fees and quicker transactions when using the MoneyGram agents nearest to them to deposit funds into their Changera Wallets.
Changera’s mission is to simplify and protect its customers’ ability to send and receive money internationally. Businesses in Nigeria, Ghana, Kenya, and Canada have benefited from the fintech platform since it first launched.
Customers of Changera may now make deposits and withdrawals directly from their bank accounts, which is a huge improvement over the prior method. It further demonstrates Changera’s dedication to providing fair access to the advantages of the digital economy and promoting financial inclusion for the excluded, unserved, and underserved areas in Africa.
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Empowering and fostering financial inclusion
According to 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 traditional banking institutions. We’re proud to be pioneers of such.”
Remarking on the integration, Umar Adamu, Chief Technology Officer at Changera said “We are thrilled that our goal to enable businesses and individuals to move money freely globally is coming to fruition through this integration with a global leader in cross-border money transfers and payment service MoneyGram. This collaboration marks a significant milestone for Changera as we expand our reach and enhance the user experience for our customers.
“We are revolutionising the way Africans engage with digital wallets, providing them with unparalleled convenience and accessibility as they on/off ramp with USDC over the Stellar network on our platform. It accentuates our commitment to fostering financial inclusion and empowering individuals throughout the continent. We are excited about the possibilities and look forward to transforming the financial landscape in Africa together.”
By incorporating MoneyGram’s reliable services, Changera is remaining true to its mission of enabling users to transact without limits, despite their geographic locations, thus filling a void left by traditional banking systems and providing individuals with ease, reliability, and security when it comes to digital wallet payments and remittances.
The partnership solidifies Changera’s role as a frontrunner in the African Fintech industry, and the integration marks a major step forward in the quest for financial inclusion.
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What to know about Changera
Changera, founded in 2021, is a venture-backed cross-border social payment startup that facilitates international commercial transactions and personal payments. Changera is one of the most rapidly expanding financial technology (fintech) applications, having users in countries as diverse as Canada, Nigeria, Ghana, and Kenya.
Users can send and receive payments anywhere in the world and save your funds in many multi-currency wallets with Changera’s local currency conversions, virtual Dollar cards, Dollar, Pound, and Euro accounts. The fintech provides access to all local and international online and offline payment options, including online and tangible dollar cards provided by MasterCard and VISA.