Upgraded MiniPay Wallet Adds Support for USDT and USDC Stablecoins 🚀
Opera has recently enhanced its integrated cryptocurrency wallet, MiniPay, by incorporating support for two of the leading stablecoins in the market: Tether’s USDT and Circle’s USDC. This development, along with the introduction of a new feature named “Pockets,” signifies a significant advancement in facilitating cryptocurrency transactions for millions of users, particularly in Africa.
New Features and Enhancements
- Opera Mini’s cryptocurrency wallet, MiniPay, now supports USDT and USDC stablecoins.
- The new “Pockets” feature enables one-click stablecoin swaps.
- MiniPay has attracted over 3 million users since its launch in September 2023.
- The wallet is based on the Celo blockchain and initially utilized the cUSD stablecoin.
- A Discover Page for integrated decentralized applications (DApps) has been introduced by MiniPay.
MiniPay, which made its debut in September 2023, has rapidly emerged as one of the fastest-growing digital wallets on the African continent, garnering more than 3 million users within a year. Operating on the Celo blockchain, MiniPay initially employed Mento’s cUSD stablecoin, which is pegged to the U.S. dollar. The wallet was tailored to cater to the requirements of local communities in Africa, facilitating the sending and receiving of stablecoins using just a mobile number.
Innovative Pockets Feature
- The new Pockets feature, developed in collaboration with Mento Labs, allows users to swiftly swap between stablecoins with a single click.
- The functionality, known as “Drag & Swap,” permits users to transition between stablecoins by dragging coins between virtual pockets, offering a user-friendly and intuitive experience with minimal fees.
Jørgen Arnesen, Executive Vice President of Mobile at Opera, highlighted the rationale behind these updates, emphasizing the potential of blockchain-enabled peer-to-peer solutions in Africa due to limited fixed internet access and high internet costs. The incorporation of USDT and USDC, representing a significant portion of the stablecoin market, aims to enhance MiniPay’s appeal and utility, simplifying onboarding and enabling new use cases in African countries.
Enhanced Utility and Access
- The integration of USDT and USDC is poised to expand MiniPay’s reach and functionality, leveraging the strong user base of these stablecoins in African markets.
- A newly launched Discover Page within MiniPay provides users access to various decentralized applications (DApps), facilitating engagement with tools like Universal Basic Income protocols, savings apps, and games.
This initiative seeks to introduce newcomers to the advantages of Web3 technology for addressing everyday challenges, such as direct payment for bills and utilities without the need to convert to local currency. Markus Franke, CEO of Mento Labs, expressed pride in supporting MiniPay users through seamless stablecoin transactions and efficiency on the Mento Platform.
Rapid Growth and Adoption in Africa
- Africa’s increasing interest and adoption of cryptocurrencies are reflected in the rapid growth of MiniPay across the continent.
- The region’s youthful and expanding population presents significant potential for digital asset adoption, with countries like South Africa, Nigeria, Zimbabwe, Kenya, and Ghana leading in Bitcoin adoption.
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