Tanzanian fintech company Nala has secured up to $50 million [1] in credit financing to expand its stablecoin-powered cross-border payment network.
This funding represents a significant scaling effort for African fintechs attempting to bypass traditional banking hurdles. By leveraging stablecoins, Nala aims to reduce the friction and cost associated with moving money across international borders, particularly for enterprise-level clients.
The financing was provided by Liquidity and Mars Growth Capital, which operates as a joint venture with Japan's MUFG Bank [1]. The credit facility is structured in stages, with an initial tranche of $25 million [1] already available to the company.
Founded by entrepreneur Benjamin Fernandes, Nala is based in Dar es Salaam, Tanzania [2]. The company intends to use the capital to pre-fund transfers and open new payment corridors [3]. These steps are designed to allow the platform to handle larger transaction volumes and support the needs of larger corporate users.
By utilizing a credit line rather than traditional equity funding, the company can scale its liquidity to meet the demands of a global expansion strategy [3]. This approach allows the network to maintain a steady flow of capital for its stablecoin operations while growing its footprint outside of Tanzania [2].
The move comes as digital assets and stablecoins increasingly challenge the dominance of legacy remittance systems in emerging markets. Nala's expansion focuses on creating a more efficient infrastructure for global trade and personal transfers through its specialized payment network [3].
“Nala has secured up to $50 million in credit financing to expand its stablecoin-powered cross-border payment network.”
The involvement of a joint venture with Japan's MUFG Bank signals a growing institutional appetite for stablecoin-based infrastructure in Africa. By securing a credit line instead of venture equity, Nala is prioritizing liquidity and operational scale, suggesting a shift toward treating stablecoin networks as critical financial utilities rather than speculative tech projects.
