Lisk Partners with Kotani Pay to Streamline Off-Ramps For Builders in Africa Kotani Pay’s partnership with Lisk will provide seamless fiat access to stablecoins for developers and general users across the continent.
Zug, Switzerland
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October 22, 2024 09:00 AM Eastern Daylight Time
Lisk, a leading Layer 2 blockchain dedicated to bringing Ethereum to emerging markets, is excited to announce its integration with Kotani Pay, a premier payment platform dedicated to connecting African users and businesses with stablecoins for local currencies. This partnership will enable projects and individuals holding assets on the Lisk protocol, primarily stablecoins like USDT and USDC, to exchange these assets directly for fiat, which can then be deposited into mobile money wallets.
As part of this integration, Kotani Pay has recently enhanced its capabilities by integrating with M-Pesa and various mobile money platforms across multiple African countries. This advancement empowers users and developers to off-ramp USDT or USDC on the Lisk protocol directly to mobile wallets via Kotani Pay, unlocking new opportunities for accessing fiat services.
“Emerging markets are at the heart of Lisk's mission,” said Dominic Schwenter, COO of Lisk. “We are deeply committed to empowering developers in Africa with the resources they need to create innovative web3 products. Yet, our efforts will fall short without robust on/off ramps—historically the Achilles' heel of crypto. Kotani Pay is addressing this challenge in Africa, and their partnership will further enhance our innovation in the region.”
This collaboration positions Lisk as the go-to RWA chain for African projects. With Kotani Pay's extensive reach across over 8 African countries, the integration provides access for projects to scale into different markets, supporting established and emerging initiatives. The significance of this partnership is underscored by a recent Chainalysis report indicating that stablecoins account for approximately 43% of the total transaction volume in the Sub-Saharan African region.
Felix Macharia, CEO of Kotani Pay, stated, “Our goal extends beyond providing access to Web3 assets in Africa. We are committed to empowering entrepreneurs and developers building Web3 products that drive economic growth across the continent. By integrating with the Lisk ecosystem, we offer dApps, DeFi platforms, and exchanges a seamless on-ramp and off-ramp solution, allowing them to unlock real value and expand their reach to underserved markets. This partnership aligns perfectly with Lisk's vision, and we are excited to support the growth of innovative solutions in the space.”
Integrating Kotani Pay's API and widget will facilitate seamless transactions, bridge real-world use cases, and enable faster, more efficient fiat on- and off-ramping. This enhancement aims to drive crypto adoption in Africa while increasing the utility of Lisk's infrastructure technology, solving a critical challenge for developers building on the Lisk protocol. In March, Lisk partnered with CV Labs to launch a VC-curated blockchain incubator program to support African entrepreneurs developing blockchain solutions tailored to the African market.
For more information about Lisk and the partnership with Kotani Pay, visit us on X.
About Lisk
Lisk is a Layer 2 blockchain dedicated to bringing Web3 adoption in emerging markets back to Ethereum. By leveraging cost-efficient, scalable, and innovative Layer 2 technology, Lisk enables real-world applications in emerging markets to operate efficiently on Ethereum for the first time. Lisk's founder-focused approach provides a comprehensive ecosystem of startup programs, tooling, seed liquidity, and knowledge bases to support local founders from inception to success.
As a long-standing Web3 infrastructure project, Lisk has been contributing towards democratizing blockchain accessibility for developers globally since 2016. As an original member of the Optimism Superchain, Lisk also plays a pivotal role in building the industry’s first truly interoperable supernetwork alongside Optimism, Base, Mode, and Worldchain.
For more information, visit us on X and join our network of builders to start building for the real world.
About Kotani Pay
Kotani Pay is an on-ramp and off-ramp payment platform connecting Web3 fintechs across Africa with local payment structures, including mobile money and banks. Dedicated to bridging the Web3 and fiat worlds, Kotani Pay's robust white-labeled API provides cash-in/cash-out services in Kenya, Ghana, South Africa, Cameroon, Tanzania, Uganda and Zambia.
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Wahaj Khan
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