Opera Taps Celo to Launch Stablecoin Wallet for African Users
Celo’s inclusion with Opera’s MiniPay wallet augurs well for Africa’s expanding digital finance sector.
Opera, the well-known web services provider, has announced intentions to integrate a non-custodial stablecoin wallet built on the Celo blockchain into its mobile web browser.
This product, dubbed “MiniPay”, is intended to empower Opera’s enormous user base across the African continent by giving an easy and safe means of accessing and dealing with stablecoins. MiniPay seeks to make digital finance more accessible by allowing people to transfer and receive stablecoins using their existing mobile phone numbers.
Exciting news live from @dappcon_berlin‘s mainstage! cc: @RegenRene @jorgenarnesen @afishinparis Charles Hamel & Rosette Belesi.
It’s finally here! We’ve partnered with global web innovator @Opera to launch @MiniPay––a first-of-its-kind stablecoin wallet built on Celo to onboard… pic.twitter.com/sEUp0yCKQe
— Celo 🦇 🌳 (@CeloOrg) September 13, 2023
Opera’s MiniPay to Transform the African Digital Finance Ecosystem
With over 100 million users in Africa, Opera is well-positioned to use its wide reach to deliver affordable and secure digital money solutions to the continent. The launch of MiniPay couldn’t come at a more critical time as users in these regions have expressed concerns about high fees, unreliable service uptimes, a lack of transparency in transaction progress, and limited access to mobile data.
These challenges have hampered financial inclusion and access to digital finance instruments, leaving many Africans on the periphery of the formal financial system. Consequently, MiniPay is designed to eliminate these obstacles by offering a range of innovative features.
Jørgen Arnesen, the Executive Vice President for mobile at Opera highlighted that MiniPay will operate with sub-cent fees, ensuring that users can transact without being burdened by high costs. Additionally, the wallet will allow users to onboard and back up their wallets using their Google credentials, simplifying the setup process.
Celo’s inclusion with Opera’s MiniPay wallet augurs well for Africa’s expanding digital finance sector. Celo, which has a sizable African user base, is well-known for its commitment to financial inclusion and accessibility. This collaboration expands MiniPay’s usability by allowing users to access a greater range of decentralized services and applications.
Recognizing the diversity of payment preferences in Africa, MiniPay has integrated with local payment methods, including Airtime and MPesa, as well as traditional bank transfers. This feature facilitates the easy conversion of stablecoins into local currencies, further promoting financial accessibility.
This new service, set to debut in the coming months, will first be introduced in Nigeria, with plans to expand its reach to other African countries, including Kenya, Ghana, and South Africa.
Opera’s Innovation Beyond MiniPay
Opera’s commitment to innovation extends beyond MiniPay. Earlier this year, the company introduced generative Artificial Intelligence (AI) integration into its web browser, referred to as AI Prompt. This feature provides users with contextual prompts for web pages or highlighted text, enhancing the browsing experience by delivering relevant information and suggestions.
Furthermore, Opera has been proactive in enhancing the security of its web browser and services. In December, it launched a suite of security tools designed to protect users against “malicious Web3 actors”.
This move emphasizes Opera’s dedication to ensuring a safe and secure online experience for its users, particularly in the realm of emerging technologies like Web3 and blockchain.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
