Tether-backed fintech Mansa raises $10M to expand stablecoin-based payments

The annualized transaction value of stablecoins surpassed $15.6 trillion in 2024, or 119% of those by Visa and 200% of Mastercard.

Tether-backed Mansa, a financial technology company specializing in cross-border payments using stablecoins, closed a $10 million funding round on Feb. 20.

Mansa raised $3 million in a pre-seed round led by Tether, the issuer of the world’s largest stablecoin, USDt 

USDT$1.00, and co-led by Polymorphic Capital, with participation from Octerra Capital, Faculty Group and Trive Digital.

The firm raised an additional $7 million in liquidity funding from institutions, including corporate investors and quantitative investment funds, to support Mansa’s market expansion across Latin America and Southeast Asia.

Mansa aims to use the $10 million to transform the way money flows in the fiat world, according to Mouloukou Sanoh, co-founder and CEO of Mansa, who told Cointelegraph: