Kenyan web3 platform Fonbnk has partnered with Tanda to launch a first-of-its-kind airtime buying and selling market throughout Tanda’s community of 40,000 brokers.
Fonbnk is a web3 on-ramp that enables Africans to simply acquire cryptocurrency belongings by exchanging their airtime credit. Meanwhile, Tanda claims to be one of many largest impartial agent and service provider community platforms in East Africa to launch a first-of-its-kind airtime buying and selling market throughout its community of 40,000 brokers.
According to an announcement shared with TechCabal, via the partnership, Tanda brokers and distributors throughout East Africa can act as airtime ‘market makers’ and entry new income streams by shopping for and promoting pay as you go airtime for revenue on Fonbnk’s distributed change.
“Tanda’s partnership with Fonbnk has the potential to be a game-changer, particularly in terms of driving user growth and monetisation. What’s especially exciting about this collaboration is the innovative bridge protocol developed in partnership with Fonbnk, which converts prepaid airtime to digital dollars — a first in the industry. This breakthrough approach enables DeFi for practical, real-world applications and can potentially transform the fintech landscape. I’m thrilled to be a part of this partnership and look forward to the opportunities it presents for both Tanda and Fonbnk,” stated Geoffrey Mulei, Co-Founder & CEO of Tanda.
Fonbnk additionally claims that the collaboration with Tanda marks a major monetary inclusion breakthrough on the continent because it permits tens of 1000’s of shops, brokers, and micro-entrepreneurs to complement their earnings by collaborating within the web3 financial system, no matter their banking standing.
“Picture the potential impact of combining mobile money platform M-Pesa with decentralised finance automated market maker, Uniswap. That’s exactly the groundbreaking solution that Fonbnk has developed, and it could have the power to revolutionise financial inclusion throughout Africa,” stated Christian Duffus, Co-Founder & CEO of Fonbnk.
Fresh off of its seed extension spherical —on the again of practically 4000% year-over-year development of recent wallets with a higher than 300% enhance in direct income—Fonbnk claims to be on observe to generate over $100 million in GMV as a part of its distinctive Web3 on- and off-ramp partnerships throughout all of the main Sub-Saharan African economies.
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