{"id":54292,"date":"2022-05-12T15:25:09","date_gmt":"2022-05-12T15:25:09","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy"},"modified":"2022-05-12T15:50:21","modified_gmt":"2022-05-12T15:50:21","slug":"mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy","title":{"rendered":"Mara raises Sh2.7 billion to enhance Africa’s crypto economy"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>MARA, a Pan-African crypto exchange has received $23 million(Sh2.7 billion) in funding from a number of angel investors led by Coinbase Ventures to set up the continent’s crypto portal.<\/p>\n

Other investors include Alameda Research (FTX), Distributed Global, TQ Ventures, DIGITAL, Nexo, Huobi Ventures, Day One Ventures and Infinite Capital.<\/p>\n

Mara\u2019s launch comes at a critical inflection point in Sub-Saharan Africa where political and economic instability has led to the devaluation of currencies across the region.<\/p>\n

As a result, food prices have doubled to tripled in some areas and created record-breaking interest rates.<\/p>\n

Mara CEO Chi Nnadi said, while cutting-edge technologies such as cryptocurrency have shown incredible promise among SubSaharan Africa\u2019s predominantly young and technologically-native population, there are considerable hurdles to using them.<\/p>\n

He added that existing global exchanges cannot operate in the region due to regulatory challenges as well as difficulty reaching the African consumer in an authentic way.<\/p>\n

“These barriers to access significantly restrict both the number of people who can participate in the crypto economy and the potential uses for digital currency in the region,” Nnadi said.<\/p>\n

He added that Mara’s suite of products addresses a variety of essential crypto-finance needs while complying with local regulations and being built authentically for the African audience.<\/p>\n

They include Mara Wallet, a brokerage app offering the crypto-curious user a friendly, distilled experience through which they can buy, send, sell and withdraw both fiat and crypto-assets instantly and without any prior crypto knowledge.<\/p>\n

It also has Pro-Exchange \u2013 a full-featured cryptocurrency platform focused on experienced users that offers a comprehensive suite of trading options and technical analysis tools.<\/p>\n

In addition, the firm has partnered with the Central African Republic, which just passed a law legalizing Bitcoin as legal tender.<\/p>\n

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.<\/p>\n

\u201cMara\u2019s mission is to facilitate a more equitable distribution of capital by providing a decentralized alternative that spans across tribes, classes, cultures, and countries,\u201d Nnadi said.<\/p>\n

He added that the firm’s goal is to close the gap in opportunities for Sub-Saharan individuals and establish a financial infrastructure that they can build their lives upon.<\/p>\n

Once onboarded, the Mara Wallet will enable users to invest in crypto and send money to their family members in real-time, without processing times or delays.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. MARA, a Pan-African crypto exchange has received $23 million(Sh2.7 billion) in funding from a number of angel investors led by Coinbase Ventures to set up the continent’s crypto portal. Other investors include Alameda Research (FTX), Distributed Global, TQ Ventures, DIGITAL, Nexo, Huobi Ventures, Day One Ventures and Infinite Capital. Mara\u2019s launch comes […]<\/p>\n","protected":false},"author":84,"featured_media":54291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6857,7003,544],"class_list":["post-54292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nMara raises Sh2.7 billion to enhance Africa's crypto economy - kenya<\/title>\n<meta name=\"description\" content=\"MARA, a Pan-African crypto exchange has received $23 million(Sh2.7 billion) in funding from a number of angel investors ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mara raises Sh2.7 billion to enhance Africa's crypto economy\" \/>\n<meta property=\"og:description\" content=\"MARA, a Pan-African crypto exchange has received $23 million(Sh2.7 billion) in funding from a number of angel investors ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-12T15:25:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-12T15:50:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2022\/05\/img-627d2c9960f5c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"811\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mara raises Sh2.7 billion to enhance Africa’s crypto economy\",\"datePublished\":\"2022-05-12T15:25:09+00:00\",\"dateModified\":\"2022-05-12T15:50:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy\"},\"wordCount\":422,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2022\/05\/img-627d2c9960f5c.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mara-raises-sh2-7-billion-to-enhance-africas-crypto-economy\",\"name\":\"Mara raises Sh2.7 billion to enhance Africa's crypto economy - 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