Nairobi-based Kotani Pay raises $2 million in pre-seed funding to enable cross-border remittances for underbanked populations in Africa using blockchain and stablecoins, significantly reducing the high transfer fees that have hindered financial inclusion. The Sub-Saharan region is estimated to receive $55 billion in remittances this year, with some African countries depending on remittances for up to 20% of GDP. Kotani offers its technology as a B2B solution, connecting crypto platforms with local payment networks through USSD for mobile money transfers, even without internet access. It also plans to expand its services to several other African countries, including Rwanda, Senegal, Ivory Coast, Tanzania, and Nigeria.
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