GafaPay, a provider of a mobile wallet with over 300,000 users in Sub-Saharan Africa, announces a partnership with SaveChain, a global neobank for unbanked people, which allows opening a US bank account to anyone in the world. The partners will launch a new virtual card product for GafaPay digital wallet to open access for millions of Africans to international money transfer, US bank account opening, mobile payments, e-commerce, etc.
The initiative addresses the financial inclusion problems in the Sub-Saharan region, where hundreds of millions of adults are unbanked and have no access to essential financial services.
Partners will offer USD-nominated virtual bank cards to 300,000 GafaPay's users in Senegal, then launch the service powered by the SaveChain money transfer technology via stablecoins in the US, home to over 2.1 million immigrants from Sub-Saharan Africa.
Mouhamadou Al Amine SARR, Senegal-born Founder of GafaPay, comments: "While studying finance in the US, I conceived the idea of a startup to address financial exclusion issues in Senegal and founded my company in 2021. We are excited to partner with SaveChain, which shares the same mission to bring financial inclusion to West Africa thanks to their crypto-native financial technology. We already have a waiting list of 200,000 clients eager to try the new product."
"Customers deserve full control of their money, and we give them a choice to keep their funds in USD, save them against national inflation, do international transfers, invest, or spend the way they want. Our mission is to bring financial inclusion to regions where traditional banks fail by providing access to WEB3 stable-coin technologies. I'm proud to have a partner with vast experience in the region with multi-billion potential," said Igor Khmel, SaveChain CEO.