2 days ago
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TLDR
- Opera Mini’s cryptocurrency wallet MiniPay has added support for USDT and USDC stablecoins.
- The wallet has introduced a new feature called “Pockets” for one-click stablecoin swaps.
- MiniPay has amassed over 3 million users since its launch in September 2023.
- The wallet is built on the Celo blockchain and initially used the cUSD stablecoin.
- MiniPay has also launched a Discover Page for integrated decentralized applications (DApps).
Opera has significantly upgraded its integrated cryptocurrency wallet, MiniPay, by adding support for two of the largest stablecoins in the market: Tether’s USDT and Circle’s USDC.
This move, coupled with the introduction of a new feature called “Pockets,” marks a major step forward in making cryptocurrency transactions more accessible and user-friendly for millions of users, particularly in Africa.
???? Big news! MiniPay is getting an upgrade with revolutionary Pockets!
???? Now supporting USDC and USDT
???? Drag & Swap between all three stablecoins with ease
We dig deeper into the new features in the comments below ???? pic.twitter.com/euRBWzhZYX
— minipay (@minipay) July 3, 2024
MiniPay, which was launched in September 2023, has quickly become one of the fastest-growing digital wallets on the African continent, amassing over 3 million users in less than a year.
Built on the Celo blockchain, MiniPay initially used Mento’s cUSD stablecoin, which is pegged to the U.S. dollar. The wallet was designed to address the needs of local communities in Africa, allowing users to send and receive stablecoins using just a mobile number.
The new Pockets feature, developed in partnership with Mento Labs, enables users to easily swap between cUSD, USDT, and USDC with just one click.
This functionality, described as “Drag & Swap,” allows users to switch between stablecoins by simply dragging coins between virtual pockets. The process is designed to be intuitive and user-friendly, with sub-cent fees and no hidden costs.
Jørgen Arnesen, Executive Vice President of Mobile at Opera, explained the rationale behind these upgrades:
“Given the lack of fixed internet access and high internet costs, we recognized the significant potential of blockchain-enabled peer-to-peer solutions within the continent. Our research showed that most consumers had concerns over the high fees, unreliable service uptimes, and lack of transparency around transaction progress associated with local payment options.”
The integration of USDT and USDC, which together represent over 85% of the total stablecoin market, is expected to broaden MiniPay’s appeal and utility.
These widely-used stablecoins have a strong existing user base in African countries, and their inclusion in MiniPay could simplify onboarding and enable new use cases.
MiniPay has also unveiled a Discover Page for decentralized applications (DApps) integrated within the wallet. This page organizes native DApps and provides users with direct access to tools such as Universal Basic Income protocols, savings applications, and games.
The goal is to introduce even first-time users to the benefits of Web3 technology for solving everyday challenges, like paying for bills and utilities directly without cashing out to local currency.
Markus Franke, CEO of Mento Labs, commented on the collaboration:
“MiniPay Pockets enable seamless transactions with stablecoins to onboard users to the digital economy. Mento Labs is very proud to support MiniPay users with easy and efficient stablecoin swaps on the Mento Platform.”
The rapid growth of MiniPay in Africa underscores the continent’s increasing interest in and adoption of cryptocurrencies.
With one of the youngest and fastest-growing populations in the world, Africa has been identified as a region with massive potential for digital asset adoption. Countries like South Africa, Nigeria, Zimbabwe, Kenya, and Ghana have been at the forefront of Bitcoin adoption on the continent.
The post MiniPay Expands: Opera’s Crypto Wallet Adds USDT and USDC Support appeared first on Blockonomi.
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